TAI'AN, China, Dec. 6, 2010 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (Nasdaq: CBPO) ("China Biologic" or the "Company"), one of the leading plasma-based biopharmaceutical companies in the People's Republic of China ("PRC"), operating through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co., Ltd. ("Shandong Taibang") and Guiyang Dalin Biologic Technologies Co., Ltd. ("Dalin"), and its equity investment in Xi'an Huitian Blood Products Co., Ltd. ("Huitian"), today announced that its Board of Directors appointed Mr. Stanley Lau to the position of President of the Company, effective December 1, 2010.
As President of the Company, Mr. Lau will oversee strategic planning and business development, partnership management and organization development. Mr. Lau has over 30 years of experience in the pharmaceutical arena, in both international and PRC markets. He brings expertise in profit and loss management, operations, sales and marketing, product development, start-ups, turnaround initiatives, profitable growth and change management. Prior to joining China Biologic, Mr. Lau served from 2002 to 2009, in various executive roles at Baxter Health International ("Baxter"), including as General Manager of Baxter Healthcare Ltd. (Hong Kong), Baxter's wholly-owned subsidiary, where he oversaw four joint ventures and a 500% increase in revenue in less than four years. Mr. Lau also worked for Pfizer, Inc. and for Pharmacia, Merck & Co. ("Merck"), where he established Merck's first wholly-owned subsidiary in Taiwan. Mr. Lau holds a Bachelor of Pharmacy degree from the University of London.
"We are extremely pleased to welcome a world-class executive of Mr. Lau's caliber to our team," said Mr. Chao Ming Zhao, Chief Executive Officer of China Biologic. "We believe that his broad and deep experience within the pharmaceutical industry brings an enhanced global perspective and expertise to our organization."
About China Biologic Products, Inc.
China Biologic Products, Inc., through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co., Ltd. and Guiyang Dalin Biologic Technologies Co., Ltd. and its equity investment in Xi'an Huitian Blood Products Co., Ltd., is currently one of the leading plasma-based biopharmaceutical companies in China. The Company is a fully integrated biologic products company with plasma collection, production and manufacturing, research and development and commercial operations. The Company's plasma-based biopharmaceutical products are irreplaceable during medical emergencies and are used for the prevention and treatment of various diseases. The Company sells its products to hospitals and other healthcare facilities in China. Please see the Company's website http://www.chinabiologic.com for additional information.
Safe Harbor Statement
This 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," including statements regarding: the ability of the Company to achieve the financial guidance provided by the management; the likelihood that customer demand will continue to rise and the continued ability of the Company to take advantage of opportunities created by such consumer demand and tight supply conditions based on strict government regulation; the ability of the Company to win SFDA approval for its research and development pipeline projects, and commercially launch new products;; the Company's ability to otherwise achieve its commercial objectives, including its ability to continue building new or expanding existing plasma collection stations to increase plasma collection capacity and maximizing the utilization of its growing plasma network, and to gain market share and further strengthen the Company's leadership in the PRC plasma market; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. 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 do 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 press 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 those 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.
Mr. Y. Tristan Kuo
Chief Financial Officer
China Biologic Products, Inc.
SOURCE China Biologic Products, Inc.