TAIAN CITY, Shandong, China, Feb. 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 one of its R&D projects, "High-Purity Human Albumin," will be listed in the National Torch Plan of China.
The National Torch Plan was organized and executed in 1988, by China's Ministry of Science and Technology, to encourage innovation and promote the development of China's high-tech industry. Projects and enterprises listed in the plan have access to a series of support programs provided by the central and local government, including, favorable tax treatment, innovation protection, technical support, and a friendly business environment.
"We are pleased with the acceptance of our project into the National Torch Plan," said Mr. Chao Ming Zhao, CEO of China Biologic. "We view the acceptance of our project as a strong endorsement of our strategy to focus on the research and development of more technologically advanced plasma-based products. We expect that the support from the government provided by the program will enhance our competitive position in the marketplace and help us reach our goal to offer the widest range of plasma-based products in China."
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
|SOURCE China Biologic Products, Inc.|
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