TAI'AN, Shandong Province,
China, April 5 /PRNewswire-Asia-FirstCall/ -- China
Biologic Products, Inc. (Nasdaq: CBPO) ("China Biologic" or the
"Company"), one of the leading plasma-based biopharmaceutical
companies in the People's Republic of
China ("PRC"), today announced that its indirect
majority-owned subsidiary, Shandong Taibang Biological Products Co.
Ltd. ("Shandong Taibang"), has been recognized as one of
Shandong's National Centers of
Excellence for New Drug and Technology Development ("SNC") by the
Department of Science and Technology of Shandong Province (the "DSTSP").
The DSTSP created the SNC designation to help implement and
advance major drug development strategies proposed by China's Ministry of Science and Technology of
PRC. SNC companies are chosen based on a number of criterion
including: annual sales exceeding 500
million RMB (or approximately $73
million) or ownership of independent intellectual property
rights for new drugs; Good Manufacturing Practices (GMP) certified;
a track record of strong pharmaceutical R&D capabilities and
highly qualified R&D team; and evidence of continued commitment
to and advances in new drug development. SNC companies also must
have established joint development agreements for new drugs
with a major R&D center in Shandong Province. Shandong Taibang was one of
only 20 Shandong-based companies designated as SNC by the
department.
Shandong Taibang and the other SNC companies are expected to
help to drive the development of the pharmaceutical industry in
Shandong Province and serve as
industry models for these development strategies. SNC companies are
eligible for government funding and other support programs for new
drug development, and may share R&D resources with the SNC and
other SNC companies. The government also encourages collaborative
relationships between SNC companies and the SNC or any entity
pursuing national drug development projects or scientific and
technological advancement projects.
"We are honored to be designated as a Center of Excellence and
look forward to providing leadership to the pharmaceutical industry
throughout Shandong province,"
said Mr. Chao Ming Zhao, China
Biologic's Chief Executive Officer. "As recognized by this SNC
designation, China Biologic has been and remains committed to
expanding our internal R&D capabilities to apply advanced
techniques to develop new and innovative plasma products to help
save lives. We expect that our access to additional R&D
resources at both the provincial and national levels as an SNC
company will further strengthen our internal new drug development
effort."
About China Biologic Products, Inc.
China Biologic Products, Inc., through its indirect
majority-owned subsidiaries, Shandong Taibang Biological Products
Co. Ltd. and Guiyang Dalin Biologic Technologies Co., Ltd., and its
equity investment in Xi'an Huitian Blood Products Co., Ltd., is
currently the largest non-state-owned plasma-based
biopharmaceutical company in China. The Company is a fully integrated
biologic products company with plasma collection, production and
manufacturing, research and development, and commercial operations.
The Company's plasma-based biopharmaceutical products are
irreplaceable during medical emergencies, and are used for the
prevention and treatment of various diseases. The Company sells its
products to hospitals and other healthcare facilities in
China. Please see the Company's
website www.chinabiologic.com for additional information.
Safe Harbor Statement
This release may contain certain "forward-looking statements"
relating to the business of China Biologic Products, Inc. and its
subsidiaries. All statements, other than statements of historical
fact included herein are "forward-looking statements," including
statements regarding: the significance of Shandong Taibang's
designation as a SNC company; the ability of the Company to
leverage access to the additional R&D resources of a SNC
company at both the provincial and national level to further
strengthen its internal new drug development efforts; 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, and 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.
Company Contact:
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Mr. Y. Tristan Kuo
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Chief Financial Officer
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China Biologic Products,
Inc.
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Tel: +86-538-6202206
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Email:
IR@chinabiologic.com
www.chinabiologic.com
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Investor Relations Contact:
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Ms. Lei Huang, Account
Manager
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CCG Investor Relations
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Phone: +1 (646) 833-3417
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Email: lei.huang@ccgir.com
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www.ccgirasia.com
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Mr. Crocker Coulson,
President
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Phone: +1 (646) 213-1915
Email:
crocker.coulson@ccgir.com
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SOURCE China Biologic Products, Inc.