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Pharma Watch: NeoStem Starts Chinese Production

July 7, 2010 (FinancialWire) — NeoStem, Inc. (AMEX: NBS), a biopharmaceutical company with operations in the U.S. and China, said that on June 15 its 51% owned Suzhou Erye pharmaceutical subsidiary passed the government inspection by the State Food and Drug Administration in China to manufacture penicillin and cephalosporin powder for injection at its new manufacturing facility. These two cGMP lines were responsible for $45 million of Erye's sales in 2009, according to NeoStem.

The new facility will provide an increase in production capacity of more than 50% over an older facility, according to the company. Coupled with the approval of the lines earlier in 2010, Erye has relocated over 90% of its 2009 sales to the new facility, placing the process, ahead of its original 2011 goal.

New York-based NeoStem is engaged in the development of stem cell-based therapies and building of a network of adult stem cell collection centers in the U.S. and China that are focused on enabling people to donate and store their own stem cells for their personal use in times of future medical need.

The company is also the licensee of various stem cell technologies, including a worldwide exclusive license to VSEL Technology, which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, and is pursuing the licensing of other technologies for therapeutic use.

NeoStem's majority-controlled Chinese pharmaceutical operation, Suzhou Erye, manufactures and distributes generic antibiotics in China.

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