China Biologic Products' Qianfeng Subsidiary Renews GMP Certification
Sep 29, 2009
TAI'AN, China, Sept. 29 /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 on September 2, 2009, the PRC's State Food and Drug Administration (the "SFDA") renewed SFDA certification of compliance with Good Manufacturing Practices ("GMP") for the production facility of Qianfeng Biological Products Co., Ltd. ("Qianfeng"), China Biologic's indirectly owned subsidiary.
Qianfeng is one of the largest plasma-based biopharmaceutical companies in China located in Guiyang, Guizhou Province, with 400 tons of annual production capacity for blood-based products. Qianfeng's production facility was certified to be in compliance with the requirements of the SFDA's GMP for pharmaceutical products on September 1, 2009. The GMP certification is valid for five years and will be subject to renewal in September 2014. China Biologic owns a controlling interest in Chongqing Dalin Biologic Technologies Co., Ltd., which, in turn, owns a controlling equity interest in Qianfeng.
"We are pleased that our newly acquired subsidiary's production facility continues to be in compliance with the SFDA's GMP standards, which are in compliance with our commitment to the maintenance of high quality standards in the plasma and blood products industry," said Mr. Chao Ming Zhao, the Company's CEO. "We believe that there are only 32 GMP approved biopharmaceutical companies in China, including our three indirect subsidiaries, which are all currently in compliance with these standards."
About Chinese Good Manufacturing Practices (GMP)
The GMP certification is an effective measure for assuring the quality, safety, and effectiveness of pharmaceutical products. GMP certification is issued by the SFDA to pharmaceutical companies in China that have met the strict standards and requirements covering organization and personnel, building and facilities, equipment, materials, hygiene and sanitation, validation, documentation, production management, quality management, production distribution and recall, complaints and adverse reactions reports and self-inspections. The GMP requirements for biopharmaceutical companies are even more stringent due to higher safety requirements.
About China Biologic Products, Inc.
China Biologic Products, Inc. (the "Company"), through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co. Ltd. and Chongqing Dalin Biologic Technologies Co., Ltd, and its equity investment in Xi'an Huitian Blood Products Co., Ltd., is currently the largest non-state-owned plasma-based biopharmaceutical company in China. The Company is a fully integrated biologic products company with plasma collection, production and manufacturing, research and development, and commercial operations. The Company's plasma-based biopharmaceutical products are irreplaceable during medical emergencies, and are used for the prevention and treatment of various diseases. It sells its products to hospitals and other healthcare facilities in China. For more information visit http://www.chinabiologic.com/ .
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 to the Company's operations of the SFDA's renewal of Qianfeng's GMP certification and the current compliance of the Company's other operating subsidiaries; 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 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: firstname.lastname@example.org Web: http://www.ccgirasia.com/
SOURCE: China Biologic Products, Inc.
CONTACT: Mr. Y. Tristan Kuo, Chief Financial Officer of China Biologic
Products, Inc., +86-538-6202206, or IR@chinabiologic.com; Investor Relations
Contact: Mr. Crocker Coulson, President of CCG Investor Relations, +1-646-213-
1915 (NY office) or Mr. Gary Chin, +1-646-213-1909, or