| OTC Markets: BOPH
Bohai Pharmaceuticals Group, Inc. (OTC: BOPH) is a leading manufacturer and marketer of herb-based pharmaceutical formulations based on traditional Chinese medicine (TCM). Of the company’s seven major TCMs being used throughout China, four prescription drugs are sold to more than 2,000 Level 1 & 2 hospitals and nearly 17,000 rural hospitals/clinics. Three OTC products are sold primarily to 2,900 retail pharmacies.
Bohai’s TCMs have been effective in treating a number of serious ailments and conditions including rheumatoid arthritis, respiratory tract infection, chronic tracheitis and bronchitis, coronary heart disease and skin diseases like eczema. The company’s top-selling products are eligible for up to 100 percent insurance reimbursement by the Chinese government. Two are included on the Essential Drugs List (EDL) for all of China, and two are onthe EDL for Shandong and Hubei Provinces . EDL inclusion is highly favorable to Bohai’s growth because all rural hospitals/clinics and Level 2 hospitals in China are mandated by law to limit prescriptions to EDL-listed products.
Over 30 percent of Bohai’s $150 million (USD) in annualized revenue can be attributed to the sale of its Tongbi Capsule, which has EDL status and is prescribed nationally for the treatment of rheumatism and rheumatoid arthritis. This TCM also has both Protected and Patented Status in China. Protected Status gives Bohai exclusive manufacturing rights to the Tongbi Capsule formula for an initial seven-year term with another seven-year term renewal. Patented Status covers Tongbi Capsule’s process as well as its formula for a 20-year period. In addition to Tongbi Capsule, Bohai has received Protected Status on its TCM for the treatment of coronary heart disease and angina pectoris. Two additional Bohai products, Lung Nourishing Syrup for chronic tracheitis and bronchitis, and a second Tongbi formula in tablet form, also benefit from Patented Status.
Co-founded in 2004 by Chairman and CEO Hongwei Qu, Bohai received its listing as a U.S. public company ( OTC: BOPH) in January 2010. It proceeded to acquire Yantai Tianzheng Pharmaceutical Company in August 2011 and now employs more than 660 people, occupies seven acres of manufacturing space in Yantai, Shandong Province, and operates 15 sales offices in China staffed by 136 of its employees. The company services its vast nationwide customer base through a network of over 90 distributors in 20 provinces.