TAI'AN, China, March 1 China BiologicProducts, Inc. (Nasdaq: CBPO) ("China Biologic," or the "Company"), a leadingplasma-based biopharmaceutical company in China, today announced that thespecial committee of independent directors appointed by the Company's board ofDirectors in the wake of the recent allegations against certain directors andan employee of the Company (the "Special Committee") has retained O'Melveny &Myers LLP, an international law firm, to advise the Special Committee and toassist in the investigation of the allegations.
The Company will issue no further comment concerning either theallegations or the work of the Special Committee until the investigation hasbeen completed.
"In the interim, our stakeholders should rest assured that the allegationsand ongoing investigation will not disrupt our business and operations," saidMr. Chaoming Zhao, Chief Executive Office of China Biologic. "Our managementteam continues to work diligently on the daily business of the Company andremains committed to executing our growth strategies and creating value forour shareholders."
About China Biologic Products, Inc.
China Biologic Products, Inc. (the "Company"), through its indirectmajority-owned subsidiaries, Shandong Taibang Biological Products Co. Ltd. andGuiyang Dalin Biologic Technologies Co., Ltd, and its equity investment inXi'an Huitian Blood Products Co., Ltd., is currently the largest non-state-owned plasma-based biopharmaceutical company in China. The Company is a fullyintegrated biologic products company with plasma collection, production andmanufacturing, research and development, and commercial operations. TheCompany's plasma-based biopharmaceutical products are irreplaceable duringmedical emergencies, and are used for the prevention and treatment of variousdiseases. The Company sells its products to hospitals and other healthcarefacilities in China.
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 Special Committee's engagement of O'Melveny & Myers LLP; the ability ofthe Company to achieve its commercial objectives; the business strategy, plansand objectives of the Company and its subsidiaries, including the ability ofthe Company's management to attend to the business and operations of theCompany and execute the Company's growth strategies during the ongoinginvestigation; 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, and 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 Chief Financial Officer China Biologic Products, Inc. Tel: +86-538-6202206 Email: [email protected]
Web: http://www.chinabiologic.com Investor Relations Contact: Ms. Lei Huang, Account Manager CCG Investor Relations Tel: +1-646-833-3417 Email: [email protected]
Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Tel: +1-646-213-1915 Email: [email protected]
SOURCE China Biologic Products, Inc.