China Biologic Products Subsidiary Awarded Center of Excellence Designation in China
Apr 5, 2010
TAI'AN, Shandong Province, China, April 5 /PRNewswire-Asia-FirstCall/ -- 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 announced that its indirect majority-owned subsidiary, Shandong Taibang Biological Products Co. Ltd. ("Shandong Taibang"), has been recognized as one of Shandong's National Centers of Excellence for New Drug and Technology Development ("SNC") by the Department of Science and Technology of Shandong Province (the "DSTSP").
The DSTSP created the SNC designation to help implement and advance major drug development strategies proposed by China's Ministry of Science and Technology of PRC. SNC companies are chosen based on a number of criterion including: annual sales exceeding 500 million RMB (or approximately $73 million) or ownership of independent intellectual property rights for new drugs; Good Manufacturing Practices (GMP) certified; a track record of strong pharmaceutical R&D capabilities and highly qualified R&D team; and evidence of continued commitment to and advances in new drug development. SNC companies also must have established joint development agreements for new drugs with a major R&D center in Shandong Province. Shandong Taibang was one of only 20 Shandong-based companies designated as SNC by the department.
Shandong Taibang and the other SNC companies are expected to help to drive the development of the pharmaceutical industry in Shandong Province and serve as industry models for these development strategies. SNC companies are eligible for government funding and other support programs for new drug development, and may share R&D resources with the SNC and other SNC companies. The government also encourages collaborative relationships between SNC companies and the SNC or any entity pursuing national drug development projects or scientific and technological advancement projects.
"We are honored to be designated as a Center of Excellence and look forward to providing leadership to the pharmaceutical industry throughout Shandong province," said Mr. Chao Ming Zhao, China Biologic's Chief Executive Officer. "As recognized by this SNC designation, China Biologic has been and remains committed to expanding our internal R&D capabilities to apply advanced techniques to develop new and innovative plasma products to help save lives. We expect that our access to additional R&D resources at both the provincial and national levels as an SNC company will further strengthen our internal new drug development effort."
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 statements regarding: the significance of Shandong Taibang's designation as a SNC company; the ability of the Company to leverage access to the additional R&D resources of a SNC company at both the provincial and national level to further strengthen its internal new drug development efforts; 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. Tel: +86-538-6202206 Email: IR@chinabiologic.com www.chinabiologic.com Investor Relations Contact: Ms. Lei Huang, Account Manager CCG Investor Relations Phone: +1 (646) 833-3417 Email: firstname.lastname@example.org www.ccgirasia.com Mr. Crocker Coulson, President Phone: +1 (646) 213-1915 Email: email@example.com
First Call Analyst:
FCMN Contact: firstname.lastname@example.org
SOURCE: China Biologic Products, Inc.
CONTACT: Company Contact: Mr. Y. Tristan Kuo, Chief Financial Officer,
China Biologic Products, Inc., Tel: +86-538-6202206, IR@chinabiologic.com,
www.chinabiologic.com; Investor Relations Contact: Ms. Lei Huang, Account
Manager, CCG Investor Relations, +1-646-833-3417, email@example.com,
www.ccgirasia.com; or Mr. Crocker Coulson, President, +1-646-213-1915,
Web Site: http://www.chinabiologic.com/