BEIJING, Feb. 14, 2018 /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 its
wholly-owned subsidiary Guizhou Taibang Biological Products Co.
Ltd. ("Guizhou Taibang") received approval from the Hainan
Provincial Health and Family Planning Commission on February 13, 2018 to build a new plasma
collection station in Hainan
Province.
The new plasma collection station will be located in Wenchang
City, which covers a collection territory with a population of
approximately 600,000. The Company intends to complete all the
prerequisite procedures, including site selection, facility
construction, staff recruitment, government inspection, and
certification, and expects to commence commercial operations of the
new station, before the end of 2018.
The capital expenditures for the new station in Wenchang are
expected to be in the range of RMB20
million to RMB30 million, or
approximately US$3.2 million to
$4.7 million, based on the
February 13, 2018 exchange rate. The
new facility is expected to reach its designed annual collection
capacity in approximately three years after obtaining a collection
license.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are excited to receive the approval to build a new collection
facility in Hainan Province. This
new approval represents an important development for Guizhou
Taibang since the closure of some of our collection stations in
Guizhou Province in 2011. While we
continue to actively expand our collection footprint in
Guizhou Province, we will also
explore suitable areas to expand our collection network beyond
Guizhou Province. The
establishment of the new collection station in Hainan represents a significant step for China
Biologic's strategy to solidify our national market leadership in
the plasma-based biopharmaceutical industry in China. With the continuing expansion of our
plasma collection capacity and advancement of our product pipeline,
we believe that we are well positioned to meet the increasing
market demands for plasma therapeutics in China in the coming years."
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 establishment
and operation of the new plasma collection station in Hainan and the management's quotations 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 the construction of the new
collection station and to commence plasma collection there,
potential delay or failure for the new station to reach its
designed collection capacity, potential inability to pass
government inspection and certification process for the new
collection station, 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 potential change in
market demand for plasma products, 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: +1-646-405-5191
E-mail: bill.zima@icrinc.com
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SOURCE China Biologic Products Holdings, Inc.