TAIAN CITY, Shandong, China /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) (the "Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today announced that on July 8, 2008, the Company was awarded the Advanced Technology Certification for Foreign Funded Enterprises (the "Certification") from the Department of Foreign Trade and Economic Cooperation of Shandong Province ("Shandong DOFTEC").
Shandong DOFTEC is a government-sponsored organization in charge of foreign trade affairs and economic cooperation for Shandong Province. The Certification was granted to the Company because the Company met the strict requirements and standards set by Shandong DOFTEC for high-tech foreign-funded companies.
"It is an honor to receive the Certification," said Mr. Chao Ming Zhao, the Company's CEO. "We believe that the recognition from Shandong DOFTEC enhances our competitive position and confirms our commitment to the production of high-quality plasma-based products with advanced technology."
The Certification is renewable in three years, subject to the Company's continued adherence to Shandong DOFTEC's Certification standards.
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 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 following: the significance of receiving the Certification; 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 involving 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 on and as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements due to 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
