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.
|SOURCE China Biologic Products, Inc.|
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