BEIJING, Sept. 8, 2015 /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. ("Shandong
Taibang") received approval from the Shandong Provincial
Health and Family Planning Commission on September 1, 2015 to build a new branch
collection facility in Shandong
Province, which will operate under the Company's Ningyang
plasma collection station.
This new plasma collection facility, located in Shanting
District of Zaozhuang City, will be a branch of the existing
Ningyang plasma collection station, which was established in
July 2011. The new collection
facility will cover the collection territory of Zaozhuang
City, which has a population of 3.8
million and offers a reliable source of plasma donors. As the
Company had already completed most of the preparation required for
this new facility while awaiting final approval, the new collection
facility is expected to commence operation and collection of source
plasma by the end of 2015. The Company expects that the new
facility will reach its designed annual collection capacity within
three years thereafter, which will increase the Company's total
collection capacity by approximately 5-8%.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"The approval of a new collection facility in Shandong represents meaningful progress in our
endeavor to sustainably grow our plasma collection volume. We have
a significant market presence in Shandong
Province, which has a total population of 96 million. This
new branch collection facility will operate in addition to our
existing eight plasma collection stations in this Province. We will
continue to devote our efforts to growing our plasma collection
volume at our existing stations as well as building new collection
facilities in strategic locations to maximize the utilization of
our processing capabilities."
"Additionally, construction of our two new stations in Hebei
Province is on track. We
expect to complete the construction of the station in Xinglong
County and receive the necessary government approval to begin
operations by the end of this year. We expect to complete
construction on the Daming County station in early 2016 and be able
to begin operations within the first half of 2016. With the
continued expansion of our plasma collection capacity and the
advancement of our product pipeline, we believe we are well
positioned to meet the increasing market demands for plasma protein
therapeutics in China in the
coming years," Mr. Gao concluded.
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 "believe," "expect," "are
expected to," or similar expressions, and involve known and unknown
risks and uncertainties. Among other things, the Company's plan
regarding the construction of the collection stations, the time
required for the collection stations to reach their designed
capacities and quotations from management in this news release
contain forward-looking statements. 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, without limitation
potential delay or failure to complete construction of new
collection facilities, potential inability to pass government
inspection and certification process for new collection facilities,
potential inability to achieve the designed collection capacities
at the new collection facilities, 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, 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
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.