Published on February 2, 2010 at 4:08 AM
NeoStem, Inc. ("NeoStem"
or the "Company") (NYSE Amex: NBS), an international biopharmaceutical company
with operations in the U.S. and China, announced that it recently was advised
that its Suzhou Erye Pharmaceutical subsidiary ("Erye") received approval from
the State Food and Drug Administration (SFDA) in China to manufacture solvent
crystallization sterile penicillin and freeze dried raw sterile penicillin at
their new facility which provides 50% and 100% greater manufacturing capacity,
respectively, than its existing facility. Historically, these two lines have
accounted for approximately 20% of Erye's sales.
NeoStem's Chairman and CEO, Robin Smith, commented, "This also is the
beginning of Erye's relocation of operations to the new facility, which will
continue through 2011, as the new production lines are completed and receive
cGMP certification. Once Erye has completed its relocation to the new facility,
and its new production lines are fully operational, it will have substantially
increased its capacity from the current plant with the goal of becoming among
the largest antibiotic producers in Eastern China."
SOURCE NeoStem, Inc.