BEIJING, Dec. 23, 2014 /PRNewswire/ -- 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
majority-owned subsidiary, Shandong Taibang Biological Products Co.
Ltd., has received Good Manufacturing
Practices ("GMP") certification from the China Food and Drug
Administration (the "CFDA") for its new coagulation factor
production facility. As previously disclosed in the Company's
public filings, the CFDA inspected this new facility for GMP
compliance in June 2014.
This new facility will primarily be used to produce
plasma-derived prothrombin complex concentrate, factor VIII and
various other coagulation factors in the pipeline. This new
facility has the capability to produce multiple coagulation factors
concurrently and on a larger scale compared with the Company's
existing production facilities.The Company expects to begin
commercial production at this new facility immediately.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are pleased to receive our GMP certificate and be able to
launch operations in our newest production facility. Once
operational, this new facility will increase our overall production
capacity and enable us to continue to meet the growing demand for
plasma-based products in China. We
anticipate that our new facility will have a positive impact on our
2015 financial results."
About China Biologic Products, Inc.
China Biologic is a leading 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 different dosages of plasma-based products
through its indirect majority-owned subsidiaries, Shandong Taibang
Biological Products Co., Ltd. and Guizhou Taibang Biological
Products 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 inoculation centers, as well as
distributors, 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 "will," "believes," "expects,"
"anticipates," 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 begin commercial production at this new facility in a timely
manner, potential inability to achieve the expected production
capacity at this new facility, potential inability to achieve the
expected operating and financial performance, potential inability
to find alternative sources of plasma, potential inability to
increase production at permitted sites, 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
Senior Vice President
Phone: +86-10-6598-3099
Email: ir@chinabiologic.com
ICR Inc.
Mr. Bill Zima
Phone: +86-10-6583-7511 or +1-646-405-5191
E-mail: bill.zima@icrinc.com
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SOURCE China Biologic Products, Inc.