China Biologic's Production Facility Renews GMP Certification
September 04 2008 - 8:00AM
PR Newswire (US)
TAIAN CITY, Shandong, China, Sept. 4 /Xinhua-PRNewswire-FirstCall/
-- China Biologic Products, Inc. (OTC:CBPO) (BULLETIN BOARD: CBPO)
("China Biologic" or the "Company"), one of the leading
plasma-based pharmaceutical companies in the People's Republic of
China (the "PRC"), today announced that on August 6, 2008, the
PRC's State Food and Drug Administration (the "SFDA") granted China
Biologic's production facility in Taian City renewal of its
certification of compliance with Good Manufacturing Practices
("GMP") set by the SFDA. In January 2008, the SFDA implemented
stricter pharmaceutical GMP inspection standards designed to
intensify supervision of drug producers and ensure drug quality.
The new inspection standards include 259 articles, up from 225
articles in the previous standards, covering areas such as the
sourcing of raw materials, manufacturing processes, self-inspection
processes at each stage of production and transportation. China
Biologic's newly constructed facility with 700 tons of annual
production capacity for plasma-based products was certified to be
in compliance with the new standards. The renewed GMP Certification
replaces the current GMP certification for the production facility,
which was renewed in 2004. The GMP certification is valid for five
years following the date of issuance. "Our renewed GMP
certification allows us to commence production in our new facility,
which we believe will position us to become a leader in the
production of plasma-based products in China," said Mr. Chao Ming
Zhao, the Company's CEO. "We are currently one of only 32
biopharmaceutical companies in China to hold the GMP certification
to manufacture plasma-based products. We plan to maintain our
compliance with GMP standards and to continue supplying high
quality products to our customers." About Chinese Good
Manufacturing Practices (GMP) The certification of GMP is an
effective measure for assuring the quality, safety, and
effectiveness of pharmaceutical products. GMP certification is
issued by the SFDA to pharmaceutical companies in China that have
met the strict standards and requirements covering organization and
personnel, building and facilities, equipment, materials, hygiene
and sanitation, validation, documentation, production management,
quality management, production distribution and recall, complaints
and adverse reactions reports and self-inspections. The GMP
requirements for biopharmaceutical companies are even more
stringent due to higher safety requirements. 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
of 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 significance of the renewed GMP certification to the
Company's expansion plans; the ability of the Company to 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. Y. Tristan Kuo
CFO China Biologic Products, Inc. Tel: +86-538-6202206 Email: Web:
http://www.chinabiologic.com/ Investor Relations Contact: Mr.
Crocker Coulson President CCG Investor Relations Tel:
+1-646-213-1915 (NY office) Email: Web: http://www.ccgir.com/
DATASOURCE: China Biologic Products, Inc. CONTACT: Company Contact,
Mr. Y. Tristan Kuo, CFO at China Biologic Products, Inc.,
+86-538-6202206, or ; Investor Relations Contact, Mr. Crocker
Coulson, President of CCG Investor Relations, +1-646-213- 1915 (NY
office), or Web site: http://www.chinabiologic.com/
http://www.ccgir.com/
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