TAI'AN, China, April 12, 2011 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (China Biologic" or the "Company") (Nasdaq: CBPO), one of the leading plasma-based biopharmaceutical companies in the People's Republic of China, today announced that it has been notified that China Biologic's two indirect majority owned subsidiaries will be awarded the designation of "Model Company for Building Pharmaceutical Product Quality Integrity" by the China Quality Association for Pharmaceuticals ("CQAP"). CQAP is a national quality management professional organization in pharmaceutical industry in China.
This award is generally considered to be a high recognition given to pharmaceutical companies in China for outstanding product and process quality. China Biologic's two subsidiaries, Shandong Taibang Biological Products Co., Ltd. ("Shandong Taibang") and Guiyang Qianfeng Biological Products Co., Ltd. (the company's name was recently changed, it is now named Guizhou Taibang Biological Products Co., Ltd.) ("Guizhou Taibang"), are among the 17 companies to be awarded in 2011. The CQAP chose the 17 final awardees in 2011 based on its inspections and evaluations of a group of selected pharmaceutical companies recommended by the local and provincial governments and chapters of the CQAP. The awards will be presented on April 15, 2011 at a national pharmaceutical industry quality management training seminar in Beijing hosted by the CQAP.
Mr. Chao Ming (Colin) Zhao, Chief Executive Officer of China Biologic, said, "We are very pleased to receive these two prestigious awards from CQAP, which demonstrates Shandong Taibang's and Guizhou Taibang's successful performances in meeting and adhering to our industry's high quality standards. For me, these awards represent a tribute to the work of our technicians, bio-scientists, engineers, staff, and management, who work each day to achieve high quality and integrity. I thank them for their outstanding performances and thank the CQAP for the prestigious awards and for encouraging similar high performances in other companies in our industry."
The CQAP's inspection and awards program, started in 2006, is designed to encourage high quality in products and production processes by selecting companies with high performance and credibility in pharmaceutical industry, including manufacturers and distributors. The selected companies must comply with all state regulations on pharmaceutical manufacturing, distribution, and business administration. They must have had no adverse events, accidents, or unresolved complaints concerning the company, or if complaints have been received, that they were investigated and the company was proven to be innocent. The CQAP assessments include reviews and verifications of documents, records, operations, and onsite inspections with an emphasis on high-quality systems construction, training, and implementation. To maintain the designation of "Model Company for Building Pharmaceutical Product Quality Integrity", the award winners must pass follow-up inspections that will be conducted by CQAP every three years.
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 the largest non-state-owned plasma-based biopharmaceutical company 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 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, among others, statements regarding the award from CQAP our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for our products, as well as all assumptions, expectations, predictions, intentions or beliefs about future events.. 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.
SOURCE China Biologic Products, Inc.