Biostar Pharmaceuticals, Inc. (Biostar) is a holding company. The Company, through its wholly owned subsidiary, Shaanxi Biostar Biotech, Ltd. (Shaanxi Biostar) and its variable interest entity (VIE) Shaanxi Aoxing Pharmaceutical Co., Ltd. (Aoxing Pharmaceutical), develops, manufactures and markets pharmaceutical products for a variety of diseases and conditions in the People�s Republic of China. The Company's product is the Xin Ao Xing Oleanolic Acid Capsule, an over-the- counter (OTC) medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. As of December 31, 2011, the Company�s product line also includes five other OTC products, 10 prescription-based pharmaceuticals, five nutriceuticals or health products and one medical device. On October 25, 2011, the Company completed the acquisition of Shaanxi Weinan Huaren Pharmaceuticals, Ltd (Shaanxi Weinan).