TAIAN CITY, Shandong, China, May 22 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (OTC 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 the Company received approval from the Bureau of Health in Guangxi Province (1) to relocate its Fang Cheng Plasma Collection Station to a more favorable location with a wider coverage area and (2) to purchase excess clinical plasma from six other central plasma stations in Guangxi.
Approval to relocate Fang Cheng Plasma Collection Station
The Fang Cheng Plasma Collection Station, currently located in Fang Cheng Gang City, Guangxi Province, has the lowest plasma collection volume among all seven CBP collection stations, primarily due to its location and coverage area. As a result of the approval, the Company may relocate the station elsewhere within Fang Cheng Gang City, or within Qin Zhou City or Bei Hai City. Management has started the search and evaluation process in order to find the best location for the station. Management expects that relocating the station would greatly increase the station’s plasma collection volume in the future.
Approval to purchase excess clinical plasma
Excess clinical plasma is an important source of raw materials for plasma-based pharmaceutical companies, especially in light of China’s severe shortage of plasma supply.
With the approval, CBP can purchase excess clinical plasma from the Central Plasma Stations in six cities of Guangxi Province, including Bai Se, Yu Lin, Lai Bin, Qin Zhou, Fang Cheng Gang and He Zhou. To date, the Company has signed contracts with four of these six stations and has procured three tons of excess clinical plasma.
“We are pleased to receive the approval from the Bureau of Health in Guangxi Province,” said Mr. Stanley Wong, the Company’s CEO. “It is very helpful to expand our plasma supply. We will continue our efforts to secure the plasma supply for our future growth.”
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: 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. Y. Tristan Kuo
VP, Finance
China Biologic Products, Inc.
Tel: +86-538-620-2206
Email: IR@chinabiologic.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
