BEIJING, Aug. 15, 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 Mr.
Min Fang, the director associated
with Warburg Pincus LLC ("Warburg Pincus"), a global private equity
firm, resigned his directorship of the Company with effect from
August 15, 2016.
Entities affiliated with Warburg Pincus have been shareholders
of the Company since 2010, and Warburg Pincus entities have reduced
their holdings in the Company over
the last year in the ordinary course of their investing business,
and now hold less than 0.1% of the Company's outstanding common
stock.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"On behalf of the board and the entire China Biologic team, I would
like to personally thank Min and Warburg Pincus for their valuable
insight and support to our company over the past several years, a
period in which China Biologic experienced rapid growth and became
a leading biopharmaceutical company in China. Warburg Pincus's exit will further expand and
diversify our stockholder base. We look forward to continued growth
and will maintain our focus on enhancing the value for all of our
stockholders."
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 dosage forms of plasma 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.
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.