TAIAN, Shandong, China, Oct. 16 /Xinhua-PRNewswire-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"), issues preliminary guidance following the recently announced acquisitions which will transform the Company into the largest non-state-owned producer of plasma based products in China.
"We expect the acquisitions of a 90% controlling interest in Chongqing Dalin Biologic Technologies Co., Ltd. ("Dalin") and a 35% equity interest in Xi'an Huitian Blood Products Co., Ltd. ("Huitian") will accelerate our geographical expansion, diversify our customer base, enhance our technological capabilities or competitive advantages and serve to transform our company into the leading biopharmaceutical producer in China," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "We believe the two acquisitions position China Biologic to significantly grow our revenues and profitability in 2009, while affording us the ability to increase our supply of plasma and achieve higher utilization levels over time across our expanded geographic platform."
China Biologic has targeted combined revenue for 2008 to be in the range of $48 million to $50 million and combined net income to be between $9 million to $10 million, including only a portion of the 4th quarter operations from the two acquisitions. Assuming the full year consolidation of the two acquisitions, management estimates revenues for 2009 will be in the range of $90 million to $100 million with net income between $18 million to $22 million. Management will continue to evaluate the potential synergies that may emerge from the two acquisitions.
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
|SOURCE China Biologic Products, Inc.|
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