BEIJING, December 23, 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 its majority-owned subsidiary, Shandong Taibang Biological Products Co. Ltd., has received Good Manufacturing Practices ("GMP") certification from the China Food and Drug Administration (the "CFDA") for its new coagulation factor production facility. As previously disclosed in the Company’s public filings, the CFDA inspected this new facility for GMP compliance in June 2014.
This new facility will primarily be used to produce plasma-derived prothrombin complex concentrate, factor VIII and various other coagulation factors in the pipeline. This new facility has the capability to produce multiple coagulation factors concurrently and on a larger scale compared with the Company’s existing production facilities.The Company expects to begin commercial production at this new facility immediately.
Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, "We are pleased to receive our GMP certificate and be able to launch operations in our newest production facility. Once operational, this new facility will increase our overall production capacity and enable us to continue to meet the growing demand for plasma-based products in China. We anticipate that our new facility will have a positive impact on our 2015 financial results."
About China Biologic Products, Inc.
China Biologic is a leading 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 different dosages of plasma-based products through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co., Ltd. and Guizhou Taibang Biological Products 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 inoculation centers, as well as distributors, 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 "will," "believes," "expects," "anticipates," 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 begin commercial production at this new facility in a timely manner, potential inability to achieve the expected production capacity at this new facility, potential inability to achieve the expected operating and financial performance, potential inability to find alternative sources of plasma, potential inability to increase production at permitted sites, 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 statements.
China Biologic Products, Inc.
Mr. Ming Yin
Senior Vice President
Mr. Bill Zima
Phone: +86-10-6583-7511 or +1-646-405-5191
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