China Biologic Products' Qianfeng Subsidiary Renews GMP Certification
September 29 2009 - 8:00AM
PR Newswire (US)
TAI'AN, China, Sept. 29 /PRNewswire-Asia-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 ("PRC"),
today announced that on September 2, 2009, the PRC's State Food and
Drug Administration (the "SFDA") renewed SFDA certification of
compliance with Good Manufacturing Practices ("GMP") for the
production facility of Qianfeng Biological Products Co., Ltd.
("Qianfeng"), China Biologic's indirectly owned subsidiary.
Qianfeng is one of the largest plasma-based biopharmaceutical
companies in China located in Guiyang, Guizhou Province, with 400
tons of annual production capacity for blood-based products.
Qianfeng's production facility was certified to be in compliance
with the requirements of the SFDA's GMP for pharmaceutical products
on September 1, 2009. The GMP certification is valid for five years
and will be subject to renewal in September 2014. China Biologic
owns a controlling interest in Chongqing Dalin Biologic
Technologies Co., Ltd., which, in turn, owns a controlling equity
interest in Qianfeng. "We are pleased that our newly acquired
subsidiary's production facility continues to be in compliance with
the SFDA's GMP standards, which are in compliance with our
commitment to the maintenance of high quality standards in the
plasma and blood products industry," said Mr. Chao Ming Zhao, the
Company's CEO. "We believe that there are only 32 GMP approved
biopharmaceutical companies in China, including our three indirect
subsidiaries, which are all currently in compliance with these
standards." About Chinese Good Manufacturing Practices (GMP) The
GMP certification 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. China Biologic
Products, Inc. (the "Company"), through its indirect majority-owned
subsidiaries, Shandong Taibang Biological Products Co. Ltd. and
Chongqing Dalin Biologic Technologies Co., Ltd, and its equity
investment in Xi'an Huitian Blood Products Co., Ltd., is currently
the largest non-state-owned plasma-based biopharmaceutical company
in China. The Company is a fully integrated biologic products
company with plasma collection, production and manufacturing,
research and development, and commercial operations. The Company's
plasma-based biopharmaceutical products are irreplaceable during
medical emergencies, and are used for the prevention and treatment
of various diseases. It sells its products to hospitals and other
healthcare facilities in China. For more information visit
http://www.chinabiologic.com/ . 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 to the Company's operations
of the SFDA's renewal of Qianfeng's GMP certification and the
current compliance of the Company's other operating subsidiaries;
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 Chief Financial Officer 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) or Mr. Gary
Chin Tel: +1-646-213-1909 Email: Web: http://www.ccgirasia.com/
DATASOURCE: China Biologic Products, Inc. CONTACT: Mr. Y. Tristan
Kuo, Chief Financial Officer of 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 Mr. Gary Chin, +1-646-213-1909, or Web Site:
http://www.chinabiologic.com/ http://www.ccgirasia.com/
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