BMP Sunstone Corp., formerly known as Beijing Med-Pharm Corp., completed its previously announced acquisition Tuesday of Hong Kong Fly International Health Care Ltd.

BMP said its name change was effective Tuesday as it took control of Hong Kong Fly, which holds a 100 percent equity interest in Sunstone Pharmaceutical Co. Ltd.

Under the deal, BMP Sunstone (NASDAQ:BJGP) of Plymouth Meeting, Pa., acquired the 51 percent of Sunstone it did not already own for 8 million shares of common stock, valued at about $70 million.

David Gao, BMP Sunstone's CEO, said the purchase enables his company to immediately expand its drug portfolio to include high profile, nationally recognized in China over-the-counter brands including Hao Wawa (Good Baby) for children's health care and Kang Fu Te for women's health care.

Sunstone generated revenue of $29.5 million and operating income of $8.1 million in the first nine months of 2007.

BMP Sunstone markets is own line of branded pharmaceutical and health-care products in China and works with other drug companies seeking to enter the Chinese pharmaceutical market.