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China Biologic Products Reports Record Third Quarter 2007 Results

Net Income increased 225.7% year-over-year to $2.3 million or 11 cents per


TAI'AN CITY, Shandong, China, Nov. 15 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (Pink Sheets: CBPO) ("CBP", "the Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today reported record financial results for the third quarter ended on September 30, 2007.

Third Quarter 2007 Highlights

-- Revenues increased 48.8% year-over-year to a record $8.9 million

-- Gross profits increased 79.7% to $6.7 million over the third quarter of


-- Operating income totaled $3.6 million, up 106.9% over the third quarter

of 2006

-- Net income was up 225.7% year-over-year to $2.3 million or $0.11 per


"During the quarter we continued to see strong demand for our plasma based products due to increased purchasing power and health consciousness of Chinese consumers although unit prices have increased greatly," said Mr. Stanley Wong, CEO of China Biologic Products, "In addition, we have taken advantage of the favorable industry environment to improve our production facilities and to accelerate the pace of developing new drugs."

Third Quarter 2007 Results

Revenues for the three months ended September 30, 2007 were $8.9 million, up 48.8% as compared to $6.0 million for the same period of 2006. The increase was primarily due to the rise in unit prices of plasma based products, although the Company's unit sales volumes declined. During the third quarter of 2007, unit prices of the Company's main products experienced growth ranging from 8.1% to 424.5% year over year. The situation of unit prices rising combined with the drop in volumes was a result of the PRC government's stringent controls on quality in the plasma based production industry. The Company is expected to adjust its production plans and to utiliz

SOURCE China Biologic Products, Inc.
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