TAIAN CITY, Shandong, China, July 9 /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 has commenced operations at its newly-constructed plasma collection station in Qi He County, Shandong Province (the "Qi He Station").
The Qi He Station has a daily capacity to collect human plasma from 1000 donors, which is equivalent to approximately 100 metric tons of plasma supply annually. The new facility replaces CBP's existing plasma collection station in Qi He County, which had a capacity to collect an impressive 60 to 80 metric tons of plasma per year. As a result of the historic performance at this station, the Company decided to expand and renovate the station to create a more hygienic environment with greater collection capacity and to ensure a high quality and quantity of human plasma supply. The Company invested $2 million in the new construction.
"We are pleased with the commencement of operations at the new Qi He Station," said Mr. Chao Ming Zhao, the Company's CEO. "We are using the most advanced collection techniques in accordance with international standards. We expect that as the station becomes fully operational, its capacity will increase to the collection of approximately 100 metric tons of plasma supply per year."
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 effect of the Qi He Station on the Company's plasma supply; 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: IR@chinabiologic.com
Web: http://www.chinabiologic.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgir.com
