BEIJING, June 20, 2016 /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 the
Company's majority-owned subsidiary, Shandong Taibang Biological
Products Co., Ltd. ("Shandong Taibang") has received the operating
permit for the newly built plasma collection station in Xinglong
County of Chengde City, Hebei
Province and expects to commence commercial plasma
collection immediately at the new Xinglong station.
The Company received approval to build two new plasma collection
stations in Xinglong and Daming Counties, respectively, in
October 2014. The new Xinglong
station covers a collection territory of approximately 0.4 million
people. The Company expects the new station to reach its designed
annual collection capacity in approximately three years.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are very pleased to receive the operating permit and commence
plasma collection at our Xinglong station. This new station not
only represents our first new license approved outside of
Shandong Province since the
regulation requiring vertical integration of plasma collection with
fractionation was implemented in 2006, but also signifies the first
new approval by Hebei regulators
since 2006. This new station represents a significant step
for China Biologic in its efforts to continue the strategic
expansion of its plasma collection capacity. We expect our Daming
station, the other station approved by the Hebei government in October 2014, to complete its construction and
obtain the operating permit in early 2017. With these new stations,
we are well positioned to meet the increasing market demands for
plasma protein therapeutics in China in the coming years."
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 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,
distributors 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 "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.