BEIJING, Dec. 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 the Grand Court of
the Cayman Islands (the "Court")
dismissed the lawsuit previously filed against the Company by Mr.
David (Xiaoying) Gao, the former
Chairman and CEO of the Company.
As previously disclosed by the Company, the lawsuit was filed by
Mr. Gao in an attempt to challenge the Company's private placement
that was announced on August 24, 2018
and completed on September 21, 2018.
On December 13, 2018 (Cayman Islands time), the Court issued an
order dismissing the claim (the "Order") on the ground that the
plaintiff lacked standing to bring such a personal claim against
the Company, and ordering Mr. Gao to pay the Company's costs of the
proceedings. The plaintiff must seek leave of the Court within 14
days of the Order if he wishes to appeal the judgment.
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, the 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
Mr. Philip Lisio
The Foote Group
Phone: +86-135-0116-6560
Email: phil@thefootegroup.com
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SOURCE China Biologic Products Holdings, Inc.