Beijing Med-Pharm Corporation Signs Agreement with Shanghai Ethypharm to Market Ondansetron Once Approved in China

Thursday July 19 12:00 PM

Beijing Med-Pharm Corporation (Nasdaq:BJGP) today announced that it has signed an exclusive license agreement with Shanghai Ethypharm Pharmaceutical Co., Ltd., a subsidiary of the French drug delivery company Ethypharm, under which Beijing Med-Pharm will market and distribute ondansetron Flashtab(R) (4 and 8 mg) in the People's Republic of China.

Under the terms of the agreement, Shanghai Ethypharm will pursue registration of ondansetron Flashtab(R) in China, a process expected to be completed in 2009. Beijing Med-Pharm will then be responsible for sales, marketing, distribution and supply.

"Ondansetron is a significant global product that complements our plans in oncology and the portfolio of supportive therapies we are building for that market, including Galake, the analgesic we recently licensed from Lotus," said David Gao, CEO of Beijing Med-Pharm. "We are very pleased to be entering our first collaboration with one of Europe's leading drug delivery companies."

"Ethypharm has made a significant corporate commitment to entering Asian markets and we believe there is a substantial opportunity in China for our Flashtab(R) ondansetron product," said Philippe Malecki, General Manager of Shanghai Ethypharm. "Offering comprehensive sales and marketing support as well as a proprietary distribution system reaching major Chinese markets, we believe Beijing Med-Pharm represents a unique resource for expediting the successful launch of this product and generating rapid sales growth."

Ondansetron is the generic form of Zofran(R), the global leader in the 5-HT(3) antagonist class of antiemetics. Ondansetron has been used in millions of patients around the world to reduce nausea and vomiting induced by cytotoxic chemotherapy and radiotherapy and to prevent post-operative nausea and vomiting. Ethypharm manufactures the product using its proprietary Flashtab(R) orally disintegrating tablet technology.

About Shanghai Ethypharm

Shanghai Ethypharm Pharmaceutical Co., Ltd., is a subsidiary of Ethypharm, one of the world's leading drug delivery systems (DDS) companies that provides a range of effective solutions to optimize the delivery of pharmaceutical products. The use of Ethypharm's DDS technologies delivers important benefits including improving the drug's efficacy, enhancing patient compliance and comfort, extending the life cycles of existing pharmaceutical products, and reducing the total cost of treatment. Ethypharm is an established DDS company with capabilities from research through manufacturing and has successfully launched 50 products in over 70 countries. For further information about Ethypharm, please visit www.ethypharm.com.

About Beijing Med-Pharm Corporation

Beijing Med-Pharm is a pharmaceutical marketing and distribution company that is building a proprietary portfolio of branded pharmaceutical products in China and pursuing partnerships with other companies seeking to enter the Chinese pharmaceuticals market. Beijing Med-Pharm is the only U.S. public company to offer industry partners a comprehensive suite of market-entry services in China that includes pre-market entry analysis; clinical trial management; product registration; market research; pharmaceutical distribution to hospitals through a unique proprietary network; and pharmaceutical marketing to physicians, hospitals and other healthcare providers. For further information about Beijing Med-Pharm, please visit www.beijingmedpharm.com.

Forward Looking Statements

In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding the successful completion of registration of ondansetron in China, the market opportunity for ondansetron in China, the successful product launch of ondansetron in China and the ability to generate rapid sales growth of ondansetron in China. Forward-looking statements provide Beijing Med-Pharm's current expectations or forecasts of future events. Actual results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries and the Chinese pharmaceutical market, and the ability of Shanghai Ethypharm to successfully register ondansetron in China. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Beijing Med-Pharm undertakes no obligation to update publicly any forward-looking statement.

Flashtab(R) is a registered trademark of Ethypharm

Zofran(R) is a registered trademark of GlaxoSmithKline

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