TAIAN CITY, China, April 27 /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 the Company received an order from one of the largest authorized biopharmaceutical distributors in India, to ship Company products valued at $5.3 million to be sold under the Company's own brand.
The order for China Biologic's Human Immunoglobulin (ph4) for IV Injection (IVIG) 5g/100ml product will be delivered to the distributor over a nine-month period, commencing June 2009.
Last year, in an effort to expand into the international market, China Biologic had established its own international sales force focused on applying for product registration and on obtaining permission to sell China Biologic's products under the Company's own brand in other countries. The Company believes that this sales order, the second one to India, represents the growing international recognition of the Company's brand and of its reputation for producing high quality biopharmaceutical products.
"We are pleased to announce another order for the international market, especially one significantly larger than our first," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "While the PRC remains an attractive growth market for us, we believe that our products can command higher selling prices in international markets, and thereby create greater profitability for our company. We view this order as a validation of the high quality of our products, and as a sign of increasing recognition by the global marketplace."
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang Biological
Products Co. Ltd., China Biologic Products, Inc., a Delaware corporation (the
"Company"), is prin
|SOURCE China Biologic Products, Inc.|
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