BEIJING, Oct. 20, 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, on October 19, 2015, the Company's majority-owned
subsidiary, Shandong Taibang Biological Products Co. Ltd.
("Shandong Taibang"), received the operating permit from local
authorities to commence plasma collection at the new branch
collection facility in Zaozhuang City, Shandong Province. As previously announced,
Shandong Taibang received approval to build this new branch
collection facility in September
2015.
This new branch collection facility will operate under the
Company's Ningyang plasma collection station and cover the
collection territory of Zaozhuang City, which has a population of
3.8 million and offers a reliable source of plasma donors. The
Company expects to commence operation and trial collection of
source plasma at this new branch collection facility immediately
and achieve its designed annual collection capacity within three
years thereafter.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are pleased to receive the operating permit and be able to
launch trial operation at our new branch collection facility in
Shandong Province. Together with
the other eight plasma collection stations in Shandong Province, this new facility is
expected to contribute to the overall growth of our plasma
collection volume over time. We will continue to expand our plasma
collection capacity to meet the increasing market demands for
plasma protein therapeutics in China."
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," "is
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.