| NeoStem sent a letter to shareholders discussing a recent acquisition. An excerpt of the letter follows: The acquisition of Erye provides us a pharmaceutical distribution system in one of the world's fastest growing consumer markets and we anticipate Erye's recent robust sales and earnings growth to continue. Earlier this year, the Chinese government announced that improving the healthcare for its citizens is a major priority and, according to Forbes.com, China's State Council has approved the spending of $124B on its healthcare system between 2009 and 2011. Owning a controlling interest in one of the largest antibiotic producers/distributors in China positions us to take advantage of this growth with products we develop in China and products we develop or license in the US for manufacturing and distribution in China. Given our size and distribution capabilities, any significant product acquisition or development could accelerate our revenue growth. :theflyonthewall.com |
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