BEIJING, Oct. 11, 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 Shandong Taibang
Biological Products Co. Ltd., the Company's majority-owned
subsidiary, recently obtained approval from the China Food and Drug
Administration (the "CFDA") to begin human clinical trials on its
Human Antithrombin III ("ATIII") product.
ATIII is intended to treat hereditary and acquired ATIII
deficiency in connection with surgical or obstetrical procedures,
and to treat thromboembolism. No manufacturer in China currently offers plasma-derived ATIII
product. China Biologic expects to commence clinical trials for the
ATIII product in 2017 and complete the trials in two years or
longer.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are pleased to obtain approval by the CFDA to conduct clinical
trials for our ATIII product. This approval comes shortly after we
received clinical trial approval for our Human Coagulation FIX
product, which demonstrates our ongoing research and development
efforts and commitment to serving the broader needs of
coagulation-deficient patients. In addition to its known
indications, we believe the ATIII product also has broader
treatment uses, for which we intend to conduct further research. We
believe this product will further improve our plasma fractionation
utilization and also contribute to our future financial
performance."
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.
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 clinical trials for ATIII product, the outlook on the
Company's financial performance driven by ATIII product sales 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 in commencing or completing the clinical
trials for ATIII product, 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.