China Biologic Receives GMP Certificate for Human Coagulation
Factor VIII to Start Commercial Manufacturing This Month
BEIJING, Oct. 24, 2012 /PRNewswire-FirstCall/ -- China
Biologic Products, Inc. (NASDAQ: CBPO, "China Biologic" or the
"Company"), a leading fully integrated plasma-based
biopharmaceutical company in China, today announced that its indirectly
owned subsidiary, Shandong Taibang Biological Products Co., Ltd.
("Taibang") has received good manufacturing practice ("GMP")
certification from the China State Food and Drug Administration
("SFDA") for Human Coagulation Factor VIII ("FVIII"). Taibang
earlier received manufacturing approval for FVIII from the SFDA in
June 2012. With now both the
manufacturing approval and the GMP certificate, Taibang expects
start commercial manufacture of FVIII products immediately.
FVIII is widely used in the treatment of hemophilia A. In
China, there is a large hemophilia
patient population (estimated at 60,000 - 100,000 afflicted with
approximately 10,000 patients registered) whose treatment requires
lifelong medication. Currently, only three domestic companies
produce plasma-based FVIII products. Taibang is in the process to
build additional manufacturing line capacity for FVIII in order to
mitigate the situation of China's
large under-supply of coagulation products.
Mr. David Gao, Chairman &
CEO, said, "We are immensely encouraged by this latest development
at Taibang and are proud to now offer the market all three major
categories of blood products through the addition of coagulation
factor products. To supply FVIII will significantly improve the
market penetration of our plasma-based offering and further
strengthen our competitive position as one of China's top plasma-based biopharmaceutical
companies."
About China Biologic Products, Inc.
China Biologic Products, Inc. (Nasdaq: CBPO), is a leading fully
integrated plasma-based biopharmaceutical company in China. The Company's products are used as
critical therapies during medical emergencies and for the
prevention and treatment of life-threatening diseases and
immune-deficiency related diseases. China Biologic is headquartered
in Beijing and manufactures over
20 plasma-based products through its indirect majority-owned
subsidiaries, Shandong Taibang Biological Products Co., Ltd. and
Guiyang Dalin Biologic Technologies Co., Ltd. The Company also has
an equity investment in Xi'an Huitian Blood Products Co., Ltd. The
Company sells its products to hospitals and other healthcare
facilities in China. For
additional information, please see the Company's website
www.chinabiologic.com.
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.
Contact:
China Biologic Products, Inc.
Mr. Ming Yin
Vice President
Phone: +86-10-6598-3099
Email: ir@chinabiologic.com
ICR Inc.
Mr. Rob Koepp
Phone: +86-10-6583-7516 or +1-646-405-5191
Email: Robert.koepp@icrinc.com
SOURCE China Biologic Products, Inc.