BEIJING, Dec. 15, 2017 /PRNewswire/ -- China Biologic Products Holdings, Inc. (NASDAQ: CBPO)("China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced that, the Company's majority-owned subsidiary, Shandong Taibang Biological Products Co. Ltd. ("Shandong Taibang"), has recently received the operating permit from local authorities to commence plasma collection at its new branch collection facility in Ju County in Rizhao City, Shandong Province.
The Company announced the receipt of approval to build one new plasma collection station in Ju County and one branch collection center in Feicheng County, respectively, in January 2017. The new Ju County station covers a collection territory of approximately 3 million people. The Company expects the new station to reach its designed collection capacity in approximately three years.
Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, "We are pleased to receive the operating permit and launch trial operations at our Ju County collection facility in Shandong Province. We also expect our new branch center in Feicheng County to complete its construction and obtain an operating permit in early 2018. Together with the other nine plasma collection stations we operate in Shandong Province, this new facility is expected to contribute to the overall growth of our plasma collection volume over time. We intend to expand our plasma collection footprint in the Shandong region to meet the increasing market demands for plasma protein therapeutics in China."
About China Biologic Products Holdings, Inc.
China Biologic Products Holdings, Inc. (NASDAQ: CBPO) is a leading fully integrated plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products through its indirect majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd. and its wholly-owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals, distributors and other healthcare facilities in China. For additional information, please see the Company's website, www.chinabiologic.com.
Safe Harbor Statement
This news release may contain certain "forward-looking statements" relating to the business of China Biologic Products Holdings, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein, are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "intend," "believe," "expect," "are expected to," "will," or similar expressions, and involve known and unknown risks and uncertainties. Among other things, the Company's plans regarding the construction of the collection stations, the time required for the collection stations to reach their designed capacities and quotations from management in this news release contain forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they 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 news 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 without limitation, potential delay or failure to complete construction of new collection facilities, potential inability to pass government inspection and certification process for new collection facilities, potential inability to achieve the designed collection capacities at the new collection facilities, potential inability to achieve the expected operating and financial performance, potential inability to find alternative sources of plasma, potential inability to increase production at permitted sites, potential inability to mitigate the financial consequences of a temporarily reduced raw plasma supply through cost cutting or other efficiencies, and potential additional regulatory restrictions on its operations and those additional risks and uncertainties 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.
China Biologic Products Holdings, Inc.
Mr. Ming Yin
Senior Vice President
Mr. Bill Zima
Phone: +86-10-6583-7511 or +1-646-405-5191
SOURCE China Biologic Products Holdings, Inc.