BEIJING, Dec. 15, 2017 /PRNewswire/ -- China Biologic
Products Holdings, 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 recently received the
operating permit from local authorities to commence plasma
collection at its new branch collection facility in Ju County in
Rizhao City, Shandong
Province.
The Company announced the receipt of approval to build one new
plasma collection station in Ju County and one branch collection
center in Feicheng County, respectively, in January 2017. The new Ju County station covers a
collection territory of approximately 3 million people. The Company
expects the new station to reach its designed collection capacity
in approximately three years.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are pleased to receive the operating permit and launch trial
operations at our Ju County collection facility in Shandong Province. We also expect our new
branch center in Feicheng County to complete its construction and
obtain an operating permit in early 2018. Together with the other
nine plasma collection stations we operate in Shandong Province, this new facility is
expected to contribute to the overall growth of our plasma
collection volume over time. We intend to expand our plasma
collection footprint in the Shandong region to meet the increasing market
demands for plasma protein therapeutics in China."
About China Biologic Products Holdings, Inc.
China Biologic Products Holdings, 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 subsidiary, Shandong Taibang Biological Products
Co., Ltd. and its wholly-owned subsidiary, 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
Holdings, 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 "intend,"
"believe," "expect," "are expected to," "will," or similar
expressions, and involve known and unknown risks and uncertainties.
Among other things, the Company's plans 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 Holdings, 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 Holdings, Inc.