TAIAN CITY, Shandong, China, May 22 ChinaBiologic Products, Inc. (OTC Bulletin Board: CBPO) (''CBP,'' or ''theCompany''), one of the leading plasma-based pharmaceutical companies in thePeople's Republic of China (''PRC''), today announced that the Companyreceived approval from the Bureau of Health in Guangxi Province (1) torelocate its Fang Cheng Plasma Collection Station to a more favorable locationwith a wider coverage area and (2) to purchase excess clinical plasma from sixother central plasma stations in Guangxi.
Approval to relocate Fang Cheng Plasma Collection Station
The Fang Cheng Plasma Collection Station, currently located in Fang ChengGang City, Guangxi Province, has the lowest plasma collection volume among allseven CBP collection stations, primarily due to its location and coverage area.As a result of the approval, the Company may relocate the station elsewherewithin Fang Cheng Gang City, or within Qin Zhou City or Bei Hai City.Management has started the search and evaluation process in order to find thebest location for the station. Management expects that relocating the stationwould greatly increase the station's plasma collection volume in the future.
Approval to purchase excess clinical plasma
Excess clinical plasma is an important source of raw materials for plasma-based pharmaceutical companies, especially in light of China's severe shortageof plasma supply.
With the approval, CBP can purchase excess clinical plasma from theCentral Plasma Stations in six cities of Guangxi Province, including Bai Se,Yu Lin, Lai Bin, Qin Zhou, Fang Cheng Gang and He Zhou. To date, the Companyhas signed contracts with four of these six stations and has procured threetons of excess clinical plasma.
''We are pleased to receive the approval from the Bureau of Health inGuangxi Province,'' said Mr. Stanley Wong, the Company's CEO. ''It is veryhelpful to expand our plasma supply. We will continue our efforts to securethe plasma supply for our future growth.''
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang BiologicalProducts Co. Ltd., China Biologic Products, Inc. (the ''Company''), isprincipally engaged in the research, development, production and manufacturingand sale of plasma-based biopharmaceutical products to hospitals and otherhealth care facilities in China. The Company's human albumin products aremainly used to increase blood volume and its immunoglobulin products are usedfor the treatment and prevention diseases.
Safe Harbor Statement
This release may contain certain ''forward-looking statements" relatingto the 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: list ofpotential investors and increase its liquidity and visibility in the market orotherwise achieve its commercial objectives; the business strategy, plans andobjectives of the Company and its subsidiaries; and any other statements ofnon-historical information. These forward-looking statements are oftenidentified by the use of forward-looking terminology such as "believes,"''expects'' or similar expressions, involve known and unknown risks anduncertainties. Although the Company believes that the expectations reflectedin these forward-looking statements are reasonable, they do involveassumptions, risks and uncertainties, and these expectations may prove to beincorrect. Investors should not place undue reliance on these forward-lookingstatements, which speak only as of the date of this press release. TheCompany's actual results could differ materially from those anticipated inthese forward-looking statements as a result of a variety of factors,including those discussed in the Company's periodic reports that