China Biologic Announces Receiving GMP Certification at its Guizhou Taibang
BEIJING, March 19, 2014
BEIJING, March 19, 2014 /PRNewswire/ --China Biologic Products, Inc. (NASDAQ:
CBPO, "China Biologic" or the "Company"), a leading fully integrated
plasma-based biopharmaceutical company in China, today announced that the
Company has received the Good Manufacturing Practice ("GMP") certification
from China Food and Drug Administration ("CFDA") in respect of its plasma
production facility at its Guizhou subsidiary.
Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China
Biologic, commented, "We are delighted to receive GMP certification earlier
than expected, allowing us to resume full-scale commercial production in late
March for all of our approved plasma products, including the newly approved
human prothrombin complex concentrate ("PCC"). This concludes our efforts of
the past nine months to achieve full compliance with GMP standards at our
Guizhou facility. We attribute this achievement to the massive contributions
of our Guizhou employees, who completed comprehensive facility upgrading ahead
of schedule. We expect higher growth with more products available for sales
starting in the third quarter this year, due to lag effects from long
production cycles and CFDA approval procedures for each batch of products."
Mr. Gao continued, "With these comprehensive upgrades, we are confident we can
enhance the operating efficiency of our Guizhou facility to meet growing
market demand moving forward."
About China Biologic Products, Inc.
China Biologic Products, Inc. (Nasdaq: CBPO), is a leading fully integrated
plasma-based biopharmaceutical company in China. The Company's products are
used as critical therapies during medical emergencies and for the prevention
and treatment of life-threatening diseases and immune-deficiency related
diseases. China Biologic is headquartered in Beijing and manufactures over 20
plasma-based products through its indirect majority-owned subsidiaries,
Shandong Taibang Biological Products Co., Ltd. and Guiyang Dalin Biologic
Technologies Co., Ltd. The Company also has an equity investment in Xi'an
Huitian Blood Products Co., Ltd. The Company sells its products to hospitals
and other healthcare facilities in China. For additional information, please
see the Company's website www.chinabiologic.com.
Safe Harbor Statement
This news 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." 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 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 news 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 its
potential inability to achieve the expected operating and financial
performance in 2013, potential inability to find alternative sources of
plasma, potential inability to increase production at permitted sites,
potential inability to mitigate the financial consequences of a temporarily
reduced raw plasma supply through cost cutting or other efficiencies, and
potential additional regulatory restrictions on its operations and those
additional risks and uncertainties 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
China Biologic Products, Inc.
Mr. Ming Yin
Mr. Bill Zima
Phone: +86-10-6583-7511 or +1-646-405-5191
SOURCE China Biologic Products, Inc.
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