TAIAN CITY, China, May 29 /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 (“China” or the “PRC”), today announced that the Company has been approved by the Chinese State Food and Drug Administration (the “SFDA”) to commence the production of Human Albumin 12.5g/vial (25%, 50 ml).
Human Albumin 12.5g/vial (25%, 50 ml), contains the highest concentration and delivers the highest dosage of the Human Albumin family products in Mainland China, and has a better effect on the clinical application for ascites due to liver cirrhosis, external injuries, hydrocephalus due to cerebral hemorrhage, serious hypoproteinemia, and other major diseases. With this approval, CBP is now one of the few producers offering the widest range of Human Albumin products available in China.
“We are pleased to receive approval from the SFDA to produce this concentration and dosage of Human Albumin,” said Mr. Chaoming Zhao, CFO of China Biologic. “The approval represents a significant milestone for our Company.”
The Company has already commenced the production and marketing of this new product.
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 significance of the new Human Albumin product to the Company, 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
Vice President, Finance
China Biologic Products, Inc.
Tel: +86-538-6202206
Email: IR@chinabiologic.com
Web: http://www.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
Web: http://www.ccgelite.com