SOURCE: PharmStar Pharmaceuticals, Inc.

April 14, 2011 09:46 ET

PharmStar Pharmaceuticals Upgrades to "Current Information" Status on the OTC Markets

ROCKY MOUNT, NC--(Marketwire - Apr 14, 2011) - PharmStar Pharmaceuticals, Inc. (PINKSHEETS: PHAR), a U.S. drug developer, manufacturer and marketer of the FDA-approved, Over-the-Counter (OTC) liquid pain reliever Aquaprin™, announced today that the OTC Markets has upgraded the company from "Limited Information Status" to its highest rating of "Current Information" status. PharmStar made its application for the upgrade late last week, and has cleared the rigid review process to receive this new status.

"We are pleased to accomplish this new status for our company ahead of schedule. We are now recognized by the OTC Markets as upholding their highest standards of corporate transparency," said PharmStar CEO Howard Phykitt. "We look forward to keeping our shareholders and the markets informed about our company, through our public filings, as we move forward with the commercial production of Aquaprin™

Last week, FINRA approved PharmStar's corporate name change and the company began trading under its new ticker symbol PHAR. All current filings can be viewed at the OTC Markets at http://www.otcmarkets.com/stock/PHAR/financials.

About Pharmstar Pharmaceuticals
PharmStar Pharmaceuticals, Inc. is a U.S.-based drug development, manufacturing and marketing company and the innovator of Aquaprin™, an FDA-approved Over-the-Counter (OTC) liquid pain reliever. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin based on a patent-pending formula. The product is designed to dissolve nearly instantly in just 1.5 ounces of water, which can be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset. PharmStar's headquarters are located in Rocky Mount, NC. More information on PharmStar is available by visiting www.pharmstarinc.com.

Forward-Looking Statements Disclosure
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "will," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

Contact Information