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China Biologic Products Responds to Allegations on Financial Websites
Date:1/27/2010

ices, to conduct a general independent investigation into the background of the Company's officers, directors and control persons, and no misconduct was found. The Company believes that this is an attempt to discredit the Company's management and disrupt the Company's business and operations.

After consultation with legal counsel and the members of the audit committee, the Board of Directors has established a special independent subcommittee comprised of audit committee chair, Mr. Sean Shao, and independent director, Dr. Tong Jun Lin, to investigate the additional allegations and report back to the Board of Directors. The subcommittee has also been authorized to seek out and retain a reputable international firm to assist in the investigation and report its findings to the subcommittee as soon as practicable.

"The Board takes these allegations seriously and plans to thoroughly investigate these issues using an independent third party," said Mr. Sean Shao, Chairman of China Biologic's audit committee. "We remain dedicated to providing the highest standards of oversight and governance to our shareholders and will work diligently to conclude the investigation in a timely manner."

The article also speculates on the recent departure of one of the Company's independent directors, Dr. Jie Gan, who resigned in mid January. As disclosed in the Company's SEC filings, Dr. Gan's resignation was not because of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Rather, Dr. Gan's personal and professional activities occupied an increasing amount of her time and in the end, she decided that it would be in the best interest of the Company and its shareholders if she were to resign and have someone else appointed to her position. The Company is activel
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SOURCE China Biologic Products, Inc.
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