China Biologic Products' High-Purity Human Albumin Research and Development Project to be Listed in the National Torch Plan
Feb 13, 2009
TAIAN CITY, Shandong, China, Feb. 13 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (OTC: CBPO) (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 one of its R&D projects, "High-Purity Human Albumin," will be listed in the National Torch Plan of China.
The National Torch Plan was organized and executed in 1988, by China's Ministry of Science and Technology, to encourage innovation and promote the development of China's high-tech industry. Projects and enterprises listed in the plan have access to a series of support programs provided by the central and local government, including, favorable tax treatment, innovation protection, technical support, and a friendly business environment.
"We are pleased with the acceptance of our project into the National Torch Plan," said Mr. Chao Ming Zhao, CEO of China Biologic. "We view the acceptance of our project as a strong endorsement of our strategy to focus on the research and development of more technologically advanced plasma-based products. We expect that the support from the government provided by the program will enhance our competitive position in the marketplace and help us reach our goal to offer the widest range of plasma-based products in China."
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 selection of the Company's High-Purity Human Albumin R&D project for listing in China's National Torch Plan and its effect on the Company's ability to increase its overall production capacity, revenues and market share; the ability of the Company to achieve its commercial objectives, including its goal to offer the widest range of plasma-based products in China; 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) or Mr. Gary Chin Tel: +1-646-213-1909 Email: firstname.lastname@example.org Web: http://www.ccgirasia.com/
SOURCE: China Biologic Products, Inc.
CONTACT: Company Contact: Mr. Y. Tristan Kuo, CFO of China Biologic
Products, Inc., +86-538-6202206, or IR@chinabiologic.com; or Investor
Relations Contact: Mr. Crocker Coulson, President, CCG Investor Relations,
+1-646-213-1915 (NY office), or Mr. Gary Chin, +1-646-213-1909, or