China Biologic Products Receives $5.3 Million Order from Largest Biopharmaceutical Distributor in India
Apr 27, 2009
TAIAN CITY, China, April 27 /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 the Company received an order from one of the largest authorized biopharmaceutical distributors in India, to ship Company products valued at $5.3 million to be sold under the Company's own brand.
The order for China Biologic's Human Immunoglobulin (ph4) for IV Injection (IVIG) 5g/100ml product will be delivered to the distributor over a nine-month period, commencing June 2009.
Last year, in an effort to expand into the international market, China Biologic had established its own international sales force focused on applying for product registration and on obtaining permission to sell China Biologic's products under the Company's own brand in other countries. The Company believes that this sales order, the second one to India, represents the growing international recognition of the Company's brand and of its reputation for producing high quality biopharmaceutical products.
"We are pleased to announce another order for the international market, especially one significantly larger than our first," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "While the PRC remains an attractive growth market for us, we believe that our products can command higher selling prices in international markets, and thereby create greater profitability for our company. We view this order as a validation of the high quality of our products, and as a sign of increasing recognition by the global marketplace."
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang Biological Products Co. Ltd., 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 human immunoglobulin product order to be shipped to India and its impact on the Company's own brand recognition in international markets; the ability of the Company to achieve its commercial objectives, including obtaining permission to sell Company products under its own brand in other countries; 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 Chief Financial Officer 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: email@example.com Web: http://www.ccgirasia.com/
SOURCE: China Biologic Products, Inc.
CONTACT: Company Contact: Mr. Y. Tristan Kuo, Chief Financial Officer of
China Biologic Products, Inc., +86-538-6202206, IR@chinabiologic.com; or
Investor Relations Contact: Mr. Crocker Coulson, President, +1-646-213-1915
(NY office), or Mr. Gary Chin, +1-646-213-1909, firstname.lastname@example.org,
both of CCG Investor Relations, for China Biologic Products, Inc.
Web site: http://www.chinabiologic.com/