China Biologic Products Announces Approval for the Relocation of Fang Cheng Plasma Collection Station and for the Procurement of
May 22 2008 - 8:00AM
PR Newswire (US)
TAIAN CITY, Shandong, China, May 22 /Xinhua-PRNewswire-FirstCall/
-- China Biologic Products, Inc. (OTC:CBPO) (BULLETIN BOARD: CBPO)
('CBP,' or 'the Company'), one of the leading plasma-based
pharmaceutical companies in the People's Republic of China ('PRC'),
today announced that the Company received approval from the Bureau
of Health in Guangxi Province (1) to relocate its Fang Cheng Plasma
Collection Station to a more favorable location with a wider
coverage area and (2) to purchase excess clinical plasma from six
other central plasma stations in Guangxi. Approval to relocate Fang
Cheng Plasma Collection Station The Fang Cheng Plasma Collection
Station, currently located in Fang Cheng Gang City, Guangxi
Province, has the lowest plasma collection volume among all seven
CBP collection stations, primarily due to its location and coverage
area. As a result of the approval, the Company may relocate the
station elsewhere within Fang Cheng Gang City, or within Qin Zhou
City or Bei Hai City. Management has started the search and
evaluation process in order to find the best location for the
station. Management expects that relocating the station would
greatly increase the station's plasma collection volume in the
future. Approval to purchase excess clinical plasma Excess clinical
plasma is an important source of raw materials for plasma- based
pharmaceutical companies, especially in light of China's severe
shortage of plasma supply. With the approval, CBP can purchase
excess clinical plasma from the Central Plasma Stations in six
cities of Guangxi Province, including Bai Se, Yu Lin, Lai Bin, Qin
Zhou, Fang Cheng Gang and He Zhou. To date, the Company has signed
contracts with four of these six stations and has procured three
tons of excess clinical plasma. 'We are pleased to receive the
approval from the Bureau of Health in Guangxi Province,' said Mr.
Stanley Wong, the Company's CEO. 'It is very helpful to expand our
plasma supply. We will continue our efforts to secure the plasma
supply for our future growth.' About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang
Biological Products Co. Ltd., China Biologic Products, Inc. (the
'Company'), is principally engaged in the research, development,
production and manufacturing and sale of plasma-based
biopharmaceutical products to hospitals and other health care
facilities in China. The Company's human albumin products are
mainly used to increase blood volume and its immunoglobulin
products are used for the treatment and prevention diseases. Safe
Harbor Statement This release may contain certain 'forward-looking
statements" relating to the business of China Biologic Products,
Inc. and its subsidiary companies. All statements, other than
statements of historical fact included herein are 'forward-looking
statements," including statements regarding: list of potential
investors and increase its liquidity and visibility in the market
or otherwise achieve its commercial objectives; the business
strategy, plans and objectives of the Company and its subsidiaries;
and any other statements of non-historical information. These
forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," 'expects' or
similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website ( http://www.sec.gov/ ). All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements. For
more information, please contact: Company Contact: Mr. Y. Tristan
Kuo VP, Finance China Biologic Products, Inc. Tel: +86-538-620-2206
Email: Investor Relations Contact: Mr. Crocker Coulson President
CCG Elite Investor Relations Tel: +1-646-213-1915 (NY office)
Email: DATASOURCE: China Biologic Products, Inc. CONTACT: Company
Contact: Mr. Y. Tristan Kuo, VP, Finance of China Biologic
Products, Inc., +86-538-620-2206, or ; Investor Relations Contact:
Mr. Crocker Coulson, President of CCG Elite Investor Relations,
+1-646-213-1915 (NY office), or
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