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China Biologic Products Reports First Quarter 2008 Results
Date:5/15/2008

-- Net income increased 19.4% year-over-year to $2.3 million or 11 cents

per share basic

TAI'AN, Shandong, China, May 15 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) ("CBP" or the "Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today reported financial results for the first quarter ended on March 31, 2008.

First Quarter 2008 Highlights

-- Revenues increased 2.2% year-over-year to 7.8 million

-- Gross profits increased 33.6% to $5.9 million over the first quarter

of 2007, representing gross margin of 75.2%

-- Operating income totaled $3.6 million, a 28.5% increase over the first

quarter of 2007

-- Net income increased 19.4% year-over-year to $2.3 million, or $0.11 per

share

"Despite the further tightened blood inspection process from the PRC government, we continued to see strong demand and price increases for our plasma-based products due to the increased purchasing power and health consciousness of Chinese consumers," said Mr. Stanley Wong, CEO of China Biologic Products. "We will continue our efforts to secure plasma supply as well as to upgrade our product portfolio. We are optimistic about our growth prospects, given that our new production line is expected to be in place by mid-2008, and is expected to expand our production capacity to 500-800 metric tons per annum."

During the quarter, the Company achieved the following milestones:

-- Common stocks commenced trading on the Over-the-Counter Bulletin Board

(the "OTCBB");

-- "High-concentration Human Hepatitis B Immunoglobulin" R&D Project was

listed in the National Torch Plan of China;

First Quarter 2008 Results

Revenues for the first quarter of 2008 were $7.8 million, a 2.2% increase, compared to $7.7 million for the same period of 200
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SOURCE China Biologic Products, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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