BEIJING, June 11, 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 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 Fibrin Sealant ("Fibrin Sealant") product.
Fibrin Sealant is intended to be used as an adjunct to
hemostasis on patients undergoing surgery in case traditional
surgical techniques such as sutures, ligatures, and cauteries are
ineffective or impractical. China Biologic expects to commence
clinical trials for the Fibrin Sealant product in 2018 and to take
at least one year to complete the trials.
Mr. David (Xiaoying) Gao,
Chairman and Chief Executive Officer of China Biologic, commented,
"We are pleased to have obtained approval from the CFDA to conduct
clinical trials for our Fibrin Sealant product, which came after
the launch of our new fibrinogen products. Fibrin Sealant can be
used in a variety of surgical applications to manage bleeding from
surfaces or cavities that are not amenable to suturing,
electrosurgery, or other specialized techniques. Our Fibrin
Sealant, sourced from human plasma, will provide medical
practitioners with better efficacy, safety and greater convenience
of use when compared to other fibrin glue products sourced from
animal blood. We believe that upon successful completion of the
clinical trials, the commercial launch of Fibrin Sealant will
enhance our market position in providing solutions to control
surgical bleeding. In addition, we believe that this product will
substantially improve our plasma fractionation utilization and make
a meaningful positive contribution to our future financial
performance."
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 clinical
trials and commercial launch of the Fibrin Sealant product 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 clinical trials for the
fibrin sealant product, potential inability to commercially launch
the fibrin sealant product, potential change in market demand for
fibrin sealant and other 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
E-mail: 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.