China Biologic Products Enters Into Agreement to Acquire 90% Controlling Interest in Chongqing Dalin Biologic Technologies... (ch 6 are currently in operation and coll...)

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China Biologic Products Enters Into Agreement to Acquire 90% Controlling Interest in Chongqing Dalin Biologic Technologies Co., Ltd.

Date:10/2/2008

ch 6 are currently in operation and collecting approximately 250 tons of plasma supply per year. Upon completion of the acquisition, China Biologic plans to re-open the additional plasma collection station in 2009. China Biologic intends to employ more advanced collection techniques at these stations, improving the Company's yields and generating additional plasma supply. China Biologic chose to target Guizhou Province, which has historically produced the highest volumes of plasma collection in China, due to a higher proportion of its population willing to engage in the collection process. Guizhou Province has a total of 19 plasma collection stations in operation, collecting approximately 1200 tons of plasma supply every year.

"The strict regulatory environment has limited the number of plasma-based producers in the industry and rising demand for improved healthcare has created a shortage of plasma-based products," Mr. Zhao further commented. "Therefore, through the acquisition of Qianfeng, we expect that we will increase our market share in China and enhance our competitiveness."

The Company will acquire the 90% interest in Dalin for approximately $28.5 million, to be paid in four installments. The Company ended the June quarter with approximately $8.8 million of cash and no debt. Management believes a portion of the acquisition price will be paid for via an anticipated bank loan.

About China Biologic Products, Inc.

Through its indirect majority-owned subsidiary Shandong Taibang Biological Products Co. Ltd. ("Shandong Taibang"), China Biologic Products, Inc., a Delaware corporation (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 of
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China Biologic Products Enters Into Agreement to Acquire 90% Controlling Interest in Chongqing Dalin Biologic Technologies...(ch 6 are currently in operation and coll...)