The remaining 65% interest in Huitian is owned by Shaanxi Power Construction Group Corporation ("SPCGC") in China, a power construction company in Shaanxi Province. In accordance with the terms of the Equity Transfer, both parties have agreed not to sell their equity interests in Huitian to a third party within the next five years, and have given each other the right of first refusal thereafter. China Biologic plans to expand Huitian's plasma collection capacity in Shaanxi Province and eventually acquire the remaining interest from SPCGC if the opportunity arises.
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, 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 of 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 impact of
the acquisition of Xi'an Huitian Blood Products Co., Ltd.; the ability of the
Company to achieve its commercial objectives; the business strategy, plans and
|SOURCE China Biologic Products, Inc.|
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