TAI'AN, China, Dec. 7, 2010 /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, operating through its indirect majority-owned
subsidiaries, Shandong Taibang Biological Products Co., Ltd.
("Shandong Taibang") and Guiyang Dalin Biologic Technologies Co.,
Ltd. ("Dalin"), and its equity investment in Xi'an Huitian Blood
Products Co., Ltd. ("Huitian"), today announced that it has
received a plasma collection license from the Shandong Province
Health Department for its newly built plasma collection station in
Yishui county, Shandong province
and will commence commercial plasma collection on December 9, 2010.
The Company received approval to build two new plasma collection
stations in Yishui and Ningyang counties in May 2010. Once the two new stations are
operating, the Company will own seven of the eight plasma
collection stations in Shandong
province, and a total of 18 plasma collection stations nationwide,
with up to 660 metric tons of plasma collection capacity when the
two new plasma stations are at their optimal capacity.
"We are pleased to be commencing operations at the Yishui
station," said Mr. Chao Ming Zhao,
Chief Executive Officer of China Biologic. "With the additional
plasma supply and the advancement of our product pipeline, we
expect to continue increasing our market share in China."
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 one of the leading plasma-based biopharmaceutical
companies 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
http://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 ability of the Company to achieve its
commercial objectives, including its ability to operate its plasma
stations at optimal capacity and continue increasing its market
share in China; 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 at http://www.sec.gov and on the
Company's website at http://www.chinabiologic.com.
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 any 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
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www.chinabiologic.com
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SOURCE China Biologic Products, Inc.