China Biologic Products Announces Strong First Quarter 20...(e Certification by the provincial govern...)

Date:5/18/2009

e Certification by the provincial government in Shandong Province, which allows the Company to be taxed at the preferential income tax rate of 15% instead of at the regular 25% rate, for a period of 3 years commencing January 1, 2008. -- One of China Biologic Products' R&D projects, "High-Purity Human Albumin," was listed in the National Torch Plan of China. -- China Biologic Products completed the government approval process for the transfer of a 35% equity interest in Xi'an Huitian Blood Products Co., Ltd. in March 2009.

First Quarter of 2009 Results

Revenue for the first quarter of 2009 increased 169.4% to a record $21.1 million compared with $7.8 million in the first quarter of 2008. The increase in revenues for the first quarter of 2009 is primarily attributable to the revenue consolidation of Dalin which accounted for approximately 44.6% of the total revenue, a general increase in the price of plasma-based products, and a 12.4% increase due to the foreign exchange translation. During the first quarter of 2009, Dalin contributed to approximately $9.5 million in revenue, and the rest of revenue was generated from Shandong Taibang, which experienced a 49.3% increase from the first quarter of 2008 to approximately $11.6 million. All of the Company's approved products, except human hepatitis B immunoglobulin, recorded price increases ranging from 3.5% to 49.2%.

Sales breakdown of the Company's major plasma-based products, the human albumin products, accounted for 58.2% of sales in the first quarter of 2009, as compared to 58.1% in same period a year ago. Sales of human albumin products increased by 171.1% while the average selling price increased by 3.5%. The Company's human immunoglobulin for intravenous injection product represented 25.4% of revenues in the first quarter of 2009, as compared to 21.1% in the first quarter of 2008; its
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SOURCE China Biologic Products, Inc. Copyright©2009 PR Newswire. All rights reserved

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