February 1, 2010–NeoStem, Inc. (AMEX: NBS) 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.”
