TAIAN CITY, China, Dec. 23 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (OTC 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 the Company made its first entry into the international market with a sales agreement to ship $1.6 million worth of its products to be sold under its own brand to one of the largest authorized biopharmaceutical distributors in India.
China Biologic has received sales orders on all the products that have been registered under the Central Drugs Standard Control Organization ("CDSCO"), the drug control administration in India. Those registered products include Human Hepatitis B Immunoglobulin 100IU/200IU and Human Immunoglobulin (ph4) for IV Injection (IVIG) 2.5gm/5.0gm. The first shipment order of $0.25 million has been delivered, and the Company expects to complete the rest of the sales order before January 31, 2009.
In an effort to expand into the international market, the Company has established its own international sales department focused on applying for product registration and obtaining permission to sell China Biologic's products under its own brand in other countries. Recently, the Company has successfully obtained product registration and has delivered the first sample order of Human Rabies Immunoglobulin to an authorized biopharmaceutical distributor in Macao.
"We are pleased to announce our entry into the international market where the quality of our products has been recognized. The international market is an even more attractive market than the PRC for our long term growth strategy as our products can command higher selling prices, thereby increasing our profit margins," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "We remain optimistic on our outlook for continued growth in revenue and net income for 2009 aided in part by development of our international business."
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang Biological Products Co. Ltd. ("Shandong Taibang"), China Biologic Products, Inc., a Delaware corporation (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 Company's entry into India and other international markets and the effect on its ability to increase its overall production capacity, revenues and market share; 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.ccgirasia.com
