TAIAN CITY, China, Dec. 23 China BiologicProducts, Inc. (OTC Bulletin Board: CBPO) ("China Biologic" or the "Company"),one of the leading plasma-based pharmaceutical companies in the People'sRepublic of China ("PRC"), today announced that the Company made its firstentry into the international market with a sales agreement to ship $1.6million worth of its products to be sold under its own brand to one of thelargest authorized biopharmaceutical distributors in India.
China Biologic has received sales orders on all the products that havebeen registered under the Central Drugs Standard Control Organization("CDSCO"), the drug control administration in India. Those registered productsinclude Human Hepatitis B Immunoglobulin 100IU/200IU and Human Immunoglobulin(ph4) for IV Injection (IVIG) 2.5gm/5.0gm. The first shipment order of $0.25million has been delivered, and the Company expects to complete the rest ofthe sales order before January 31, 2009.
In an effort to expand into the international market, the Company hasestablished its own international sales department focused on applying forproduct registration and obtaining permission to sell China Biologic'sproducts under its own brand in other countries. Recently, the Company hassuccessfully obtained product registration and has delivered the first sampleorder of Human Rabies Immunoglobulin to an authorized biopharmaceuticaldistributor in Macao.
"We are pleased to announce our entry into the international market wherethe quality of our products has been recognized. The international market isan even more attractive market than the PRC for our long term growth strategyas our products can command higher selling prices, thereby increasing ourprofit margins," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "Weremain optimistic on our outlook for continued growth in revenue and netincome for 2009 aided in part by development of our international business."
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang BiologicalProducts Co. Ltd. ("Shandong Taibang"), China Biologic Products, Inc., aDelaware corporation (the "Company"), is principally engaged in the research,development, production and manufacturing and sale of plasma-basedbiopharmaceutical products to hospitals and other health care facilities inChina. The Company's human albumin products are mainly used to increase bloodvolume and its immunoglobulin products are used for the treatment andprevention of diseases.
Safe Harbor Statement
This release may contain certain "forward-looking statements" relating tothe 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 significanceof the Company's entry into India and other international markets and theeffect on its ability to increase its overall production capacity, revenuesand market share; the ability of the Company to achieve its commercialobjectives; the business strategy, plans and objectives of the Company and itssubsidiaries; and any other statements of non-historical information. Theseforward-looking statements are often identified by the use of forward-lookingterminology such as "believes," "expects" or similar expressions, involveknown and unknown risks and uncertainties. Although the Company believes thatthe expectations reflected in these forward-looking statements are reasonable,they do involve assumptions, risks and uncertainties, and these expectationsmay prove to be incorrect. Investors should not place undue reliance on theseforward-looking statements, which speak only as of the date of this pressrelease. The Company's actual results could differ materially from thoseanticipated in these forward-looking statements as a result of a variety offactors, including those discussed in the Company's periodic reports that arefiled with the Securities and Exchange Commission and available on its website(http://www.sec.gov). All forward-looking statements attributable to theCompany or persons acting on its behalf are expressly qualified in theirentirety 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 CFO 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) Email: email@example.com Web: http://www.ccgirasia.com
SOURCE China Biologic Products, Inc.