BEIJING, April 25, 2012 /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 effective April 20, 2012, the Company's Board of Directors
(the "Board") appointed Mr. Zhijun
Tong and Ms. Sandy (Han)
Zhang as two new independent directors of the Company. The
Board recently adopted a series of measures to improve the
Company's corporate governance, especially to enhance the
independence and transparency of the Board.
Mr. Chao Ming (Colin) Zhao, China
Biologic's President & Chief Executive Officer, said, "We
welcome Mr. Tong and Ms. Zhang to our Board of Directors and
believe that their valuable additions will contribute to the
success of China Biologic. We expect that Ms. Zhang's acute
financial knowledge and Mr. Tong's diversified broad experience in
the pharmaceutical industries, plus his in-depth understanding of
the U.S. and Chinese business environment, will give us valuable
operational oversight and further enhance our corporate governance
program. The two appointments prove that we are taking action based
on our new corporate governance policy."
Mr. Zhijun Tong has served as the
chairman of the board of directors of several companies, including
Spain Qifa Corporation Ltd., since 1996; Hong Kong Tong's Group,
since 2007; Sunstone (Qingdao)
Plant Oil Co., Ltd., since 2008; Sunstone (Qingdao) Food Co., Ltd., since 2009; Shengda
(Zhangjiakou) Pharmaceutical Co., Ltd., since 2011; and Shengda
(Qianxi) Chinese Medicine Cultivation Co., Ltd., since 2012. He has
also served as a director and a vice president of Spain
International Haisitan Group since 1993. From 2007 to 2011, Mr.
Tong served as the president and director of BMP Sunstone
Corporation, a NASDAQ-listed pharmaceutical corporation. He is 52
years old.
Ms. Sandy (Han) Zhang has served
as a consultant at Resources Global Professionals Consulting,
Shanghai, since 2006. Ms. Zhang
also has worked as an associate at Deloitte & Touche Corporate
Finance Pte Ltd., Singapore, from
May 2005 to May 2006; as a senior auditor at Deloitte &
Touche LLP, Singapore, from
December 2002 to May 2005; and as a financial manager at Hypac, a
division of Terex Corporation, from July
1998 to July 2000. She is 39
years old.
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 one
of the leading plasma-based biopharmaceutical companies in
China.
China Biologic 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 news 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."
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
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 news 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 its potential inability to achieve the expected operating
and financial performance in 2012, potential inability to find
alternative sources of plasma, potential inability to increase
production at permitted sites, potential inability to mitigate the
financial consequences of a temporarily reduced raw plasma supply
through cost cutting or other efficiencies, and potential
additional regulatory restrictions on its operations and those
additional risks and uncertainties 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
Mr. Ming Yin
Vice President - Business Development
China Biologic Products, Inc.
Telephone: +86 10 6598 3099
Email: ir@chinabiologic.com
www.chinabiologic.com
SOURCE China Biologic Products, Inc.