TAI'AN, China, July 11, 2011 /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, today announced that it has
received the permit from the Shandong Province Health Department
for the newly built plasma collection station in Ningyang County,
Shandong Province, and expects to
begin commercial plasma collection at the Ningyang station on
July 12, 2011.
The Company received approval to build two new plasma collection
stations in Yishui and Ningyang Counties in May 2010. The Yishui station began collecting
plasma in December 2010. With the
opening of the Ningyang station, China Biologic owns seven of the
eight plasma collection stations in Shandong Province.
"We are very pleased to begin operating tomorrow at our new
Ningyang collection station in Shandong
Province," said Mr. Chao Ming
Zhao, Chief Executive Officer of China Biologic. "The
Ningyang and Yishui stations have a combined designed annual
capacity of about 80 metric tons of plasma. We expect to increase
the volume of plasma collected there until we are at or near the
designed annual capacity for those two stations, which we believe
is likely to occur in 2014."
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 its two new stations in
Shandong Province to operate at
sufficient levels to increase their plasma collection volume to 80
metric tons in 2014; 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.
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.