TAIAN CITY, China, March 25 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) ("CBP," or "the Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today announced that one of its R&D projects, "High-concentration Human Hepatitis B Immunoglobulin", was listed in the National Torch Plan of China.
The National Torch Plan was organized and executed by The Ministry of Science and Technology of the People's Republic of China in 1988, with its objective to encourage innovation and promote the development of China's high- tech industry. For those projects and enterprises listed in the plan, the central and local government provides a series of support programs, such as favorable tax treatment, innovation protection, technical support, and a friendly business environment.
"We are pleased with this project's acceptance into the National Torch Plan, which is a strong endorsement of our strategy to focus on research and development of more technologically advanced plasma based products," said Mr. Stanley Wong, CEO of China Biologic. "It should also have a very positive impact on our application to be considered one of China's National High-Tech Enterprises. We expect that this continued support from the government will provide us with a competitive advantage for our manufacturing technology and our products in the marketplace."
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang Biological Products Co. Ltd., China Biologic Products, Inc. (the "Company"), is principally engaged in the research, development, production and manufacturing and sale of plasma-based biopharmaceutical products to hospitals and other health care facilities in China. The Company's human albumin products are mainly used to increase blood volume and its immunoglobulin products are used for the treatment and prevention diseases.
Safe Harbor Statement
This release may contain certain "forward-looking statements" relating
to 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: the ability of the Company to expand its list of potential
investors and increase its liquidity and visibility in the market or
otherwise achieve its commercial objectives; 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, 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.
For more information, please contact:
Mr. Stanley Wong
China Biologic Products, Inc.
Investor Relations Contact:
Mr. Crocker Coulson
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY office)
|SOURCE China Biologic Products, Inc.|
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