BEIJING, Aug. 13, 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 the Company's
Board of Directors (the "Board") has appointed Dr. Bing Li as the
Chief Executive Officer of the Company, effective August 13, 2018. By assuming the CEO position,
Dr. Li has moved from an independent director to an executive
director of the Board. Mr. Zhijun
Tong, the former acting CEO, will continue to serve as an
executive director of the Board and President of the Company.
Mr. David Hui Li, Chairman of
China Biologic, stated, "I am very pleased that Dr. Li has agreed
to take the position of Chief Executive Officer. I believe, with
his extensive expertise in the pharmaceutical industry and solid
understanding of the industry and the Company, Dr. Li is well
qualified for the task to execute the Board's recent strategy to
rejuvenate the Company, to strengthen the Company's market
positioning and to transform it into a next-generation global
biopharmaceutical company. Additionally, I want to personally thank
Mr. Tong for his leadership over the last month by assuming the
acting CEO position, and I look forward to his continuing
leadership and contribution as the President of the Company."
"I am deeply honored by the confidence and trust that the Board
of Directors has placed in me," said Dr. Bing Li, the newly elected
CEO of China Biologic. "I appreciate the opportunities provided to
take China Biologic to the next level, and I am thrilled by the
substantial growth potential ahead of us. I am looking forward to
working with the management, employees and partners of the Company
to redevelop and execute our growth strategy, to enhance the
long-term shareholder value."
Dr. Bing Li has been a member of the Board of China Biologic
since July 25, 2018 and previously
served on the Board of the Company from February 2011 to May
2014. Dr. Li served as a managing director of Fosun Group, a
China-based international
conglomerate and investment company, from March 2016 to December
2017, and a vice president of Shanghai Fosun Pharmaceutical
(Group) Co., Ltd., a Chinese pharmaceutical company, from
May 2014 to February 2016. Prior to that, Dr. Li served as an
executive director of Warburg Pincus, an American private equity
firm, from June 2010 to May 2014, and as a general manager of the
Enterprise Business and Business Development division in
China and Hong Kong at GlaxoSmithKline, a global
pharmaceutical company, from August
2006 to June 2010. From 1999
to 2006, Dr. Li held multiple roles in Eli Lilly and Company, a
global pharmaceutical company. Dr. Li received a B.S. in Biophysics
from Fudan University, a Ph.D. in Cell and Molecular Biology from
University of Rochester, and a MBA and
MEM from Northwestern University.
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.
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, those 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
View original
content:http://www.prnewswire.com/news-releases/china-biologic-names-bing-li-as-new-ceo-300695893.html
SOURCE China Biologic Products Holdings, Inc.