Navigation Links
China Biologic Products Enters into Short-Term Loan Agreement
Date:1/13/2009

TAI'AN CITY, China, Jan. 13 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) ("China Biologic" or the "Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today announced that Shandong Taibang Biological Products Co., Ltd. ("Taibang"), a Chinese subsidiary of the Company, entered into a short term bank loan ("the Loan Agreement") with the Bank of China ("the Bank") on January 8, 2009.

Pursuant to the Loan Agreement, the Bank loaned Taibang RMB 40 million (approximately $5.8 million) (the "Loan"). The Loan has an annual interest rate of 5.31% on all outstanding principal and is due and payable in full on January 7, 2010 (the "Maturity Date"). The Loan is to be used solely for the purpose of funding the purchase of raw materials. Taibang is obligated under the Loan Agreement to pay the interest quarterly and repay the principal and any remaining interest in full on the Maturity Date.

"We are pleased to secure this loan with the Bank of China at a very reasonable interest rate," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "This loan will help to support our necessary working capital requirements to fund the purchase of raw materials, helping us to achieve our growth objectives."

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 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 significance of the loan agreement with the Bank of China on the Company's ability to increase its overall production capacity, revenues and market share; the ability of the Company to 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:

    Company Contact:
     Mr. Y. Tristan Kuo, CFO
     China Biologic Products, Inc.
     Tel:      +86-538-6202-206
     Email:    IR@chinabiologic.com
     Web site:http://www.chinabiologic.com

    Investor Relations Contact:
     Mr. Crocker Coulson, President
     CCG Investor Relations
     Tel:      +1-646-213-1915 (NY office)
     Email:    crocker.coulson@ccgir.com
     Web site:http://www.ccgirasia.com

'/>"/>
SOURCE China Biologic Products, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. China Pharma Holdings, Inc. Receives SFDA Production Approval for Tiopronin Enteric-Coated Capsules
2. American Oriental Bioengineering to Participate in the 2009 UBS Greater China Conference
3. China Sky One Medical, Inc. Qualifies for Preferential Income Tax Rate
4. Health Robotics Announces Partnership in the Peoples Republic of China With The Devon International Group
5. China Sky One Medical, Inc. Receives Scientific Achievement Award
6. China Medicine to Distribute Dental and Surgical Instruments
7. HUYA Bioscience Announces Agreement to Provide Schering-Plough With Drug Development Candidates From China
8. VIASPACE Plants Biofuel & Animal Feed Grass and Signs Land Lease in China
9. China Sky One Medical, Inc. Interviewed in The China Perspective
10. China Medicine Corporation Awarded GSP Certification
11. NSD Bio Group, LLC chosen by U.S.-China Economic & Security Review Commission for Report on Chinas High Tech Sectors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/16/2017)... 16, 2017  ImMAGE Biotherapeutics (OTCMKTS: IMMG), an early-stage biotechnology ... a better treatment for triple negative breast cancer (TNBC), announced ... France program. The YEi Start in ... to help entrepreneurs grow their business in France ... American companies selected to complete an intensive one week immersion ...
(Date:2/16/2017)... 16, 2017 Research and Markets ... Global Markets" report to their offering. ... ... biobrick parts, delivery plasmids, chassis organisms, synthetic cells, production ... genome editing, bioinformatics and specialty media) and enabled technologies ...
(Date:2/16/2017)... DENVER , Feb. 16, 2017 UCHealth ... hospital to utilize LungDirect for pulmonary nodule patient management. ... a nodule, or a spot on the lung, UCHealth ... spent on manual data entry. Stephanie ... been tracking my nodule patients with an Excel spreadsheet, ...
(Date:2/16/2017)... 2017  Windtree Therapeutics, Inc. (Nasdaq: ... aerosolized KL4 surfactant therapies for respiratory diseases, announced ... showed that aerosolized KL4 surfactant reduced lung inflammation ... animal model. The Company believes that these preclinical ... that supports the role of KL4 surfactant as ...
Breaking Biology Technology:
(Date:2/13/2017)... SAN FRANCISCO , Feb. 13, 2017 /PRNewswire/ ... a centralized platform that is designed to enhance ... the latest release in the RSA Fraud & ... to enable organizations to leverage additional insights from ... anti-fraud tools to better protect their customers from ...
(Date:2/9/2017)... 9, 2017 The biomass boiler market report ... biomass boiler market globally in terms of revenue (US$ ... The market for biomass boilers has been segmented on ... and country/region. The market based on feedstock type, has ... biogas & energy crops, urban residues, and others. On ...
(Date:2/8/2017)... YORK , Feb. 7, 2017 Report Highlights ... The ... should reach $11.4 billion by 2021, growing at a compound ... Includes - An overview of the global markets for synthetic ... 2015, estimates for 2016, and projections of compound annual growth ...
Breaking Biology News(10 mins):