China Biologic Products Announces One of Its R&D Projects Has Been Listed In National Torch Plan
March 25 2008 - 8:00AM
PR Newswire (US)
TAIAN CITY, China, March 25 /Xinhua-PRNewswire-FirstCall/ -- China
Biologic Products, Inc. (OTC:CBPO) (BULLETIN BOARD: CBPO) ("CBP,"
or "the Company"), one of the leading plasma-based pharmaceutical
companies in the People's Republic of China ("PRC"), today
announced that one of its R&D projects, "High-concentration
Human Hepatitis B Immunoglobulin", was listed in the National Torch
Plan of China. The National Torch Plan was organized and executed
by The Ministry of Science and Technology of the People's Republic
of China in 1988, with its objective to encourage innovation and
promote the development of China's high- tech industry. For those
projects and enterprises listed in the plan, the central and local
government provides a series of support programs, such as favorable
tax treatment, innovation protection, technical support, and a
friendly business environment. "We are pleased with this project's
acceptance into the National Torch Plan, which is a strong
endorsement of our strategy to focus on research and development of
more technologically advanced plasma based products," said Mr.
Stanley Wong, CEO of China Biologic. "It should also have a very
positive impact on our application to be considered one of China's
National High-Tech Enterprises. We expect that this continued
support from the government will provide us with a competitive
advantage for our manufacturing technology and our products in the
marketplace." About China Biologic Products, Inc. Through its
indirect majority-owned subsidiary Shandong Taibang Biological
Products Co. Ltd., China Biologic Products, Inc. (the "Company"),
is principally engaged in the research, development, production and
manufacturing and sale of plasma-based biopharmaceutical products
to hospitals and other health care facilities in China. The
Company's human albumin products are mainly used to increase blood
volume and its immunoglobulin products are used for the treatment
and prevention diseases. Safe Harbor Statement This release may
contain certain "forward-looking statements" relating to the
business of China Biologic Products, Inc. and its subsidiary
companies. All statements, other than statements of historical fact
included herein are "forward-looking statements," including
statements regarding: the ability of the Company to expand its list
of potential investors and increase its liquidity and visibility in
the market or otherwise achieve its commercial objectives; the
business strategy, plans and objectives of the Company and its
subsidiaries; and any other statements of non-historical
information. These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do 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 press 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 those 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. For more information, please contact: Company Contact:
Mr. Stanley Wong CEO China Biologic Products, Inc. Tel:
+86-538-6202306 Email: Investor Relations Contact: Mr. Crocker
Coulson President CCG Elite Investor Relations Tel: +1-646-213-1915
(NY office) Email: DATASOURCE: China Biologic Products, Inc.
CONTACT: Company Contact - Mr. Stanley Wong, CEO of China Biologic
Products, Inc., +86-538-6202306, or ; Investor Relations Contact -
Mr. Crocker Coulson, President of CCG Elite Investor Relations, +1-
646-213-1915 (NY office), or
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