China Biologic Products Corrects two Administrative Errors in its May 9, 2011 Earnings Release

PR Newswire
TAI'AN, Shandong, China
May 10, 2011

TAI'AN, Shandong, China, May 10, 2011 /PRNewswire-Asia/ -- China Biologic Products, Inc. (NASDAQ: CBPO) ("China Biologic" or the "Company"), one of the leading plasma-based biopharmaceutical companies in the People's Republic of China ("PRC"), today corrected two administrative errors in its earnings release issued on May 9, 2011.

The GAAP net income attributable to China Biologic in the first quarter of 2011 was $6.3 million, or $0.23 (not $0.25) per diluted share, as compared to $10.6 million, or $0.26 (not $0.4) per diluted share in the same period of 2010.

China Biologic regrets these two administrative errors and apologizes for any temporary difficulty or misunderstanding it may have created.

About China Biologic Products, Inc.

China Biologic Products, Inc., through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co., Ltd. and Guiyang 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. The Company sells its products to hospitals and other healthcare facilities in China. Please see the Company's website www.chinabiologic.com for additional information.

Safe harbor statement

This release may contain certain "forward-looking statements" relating to the business of China Biologic Products, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein are "forward-looking statements," including, among others, statements regarding: 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, and 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.


                                    Company Contact
                                  Mr. Y. Tristan Kuo
                                Chief Financial Officer
                             China Biologic Products, Inc.
                              Telephone: +86-538-6202206
    Email: ir@chinabiologic.com
    www.chinabiologic.com

SOURCE China Biologic Products, Inc.

SOURCE: China Biologic Products, Inc.

China Biologic Products Corrects two Administrative Errors in its May 9, 2011 Earnings Release

PR Newswire

TAI'AN, Shandong, China, May 10, 2011 /PRNewswire-Asia/ -- China Biologic Products, Inc. (NASDAQ: CBPO) ("China Biologic" or the "Company"), one of the leading plasma-based biopharmaceutical companies in the People's Republic of China ("PRC"), today corrected two administrative errors in its earnings release issued on May 9, 2011.

The GAAP net income attributable to China Biologic in the first quarter of 2011 was $6.3 million, or $0.23 (not $0.25) per diluted share, as compared to $10.6 million, or $0.26 (not $0.4) per diluted share in the same period of 2010.

China Biologic regrets these two administrative errors and apologizes for any temporary difficulty or misunderstanding it may have created.

About China Biologic Products, Inc.

China Biologic Products, Inc., through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co., Ltd. and Guiyang 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. The Company sells its products to hospitals and other healthcare facilities in China. Please see the Company's website www.chinabiologic.com for additional information.

Safe harbor statement

This release may contain certain "forward-looking statements" relating to the business of China Biologic Products, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein are "forward-looking statements," including, among others, statements regarding: 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, and 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.

Company Contact

Mr. Y. Tristan Kuo

Chief Financial Officer

China Biologic Products, Inc.

Telephone: +86-538-6202206

Email: ir@chinabiologic.com

www.chinabiologic.com  



SOURCE China Biologic Products, Inc.

Web Site: http://www.chinabiologic.com


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