TAIAN CITY, Shandong, China, Sept. 17 /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"), today announced that the Company received approval from the PRC State Food and Drug Administration (the "SFDA") to commence clinical trial of its new Human Coagulation Factor VIII product ("FVIII"), a coagulation treatment for hemophilia and mass hemorrhaging.
As one of four suppliers of Cryoprecipitate in China, China Biologic has been engaged in a contract to supply Cryoprecipitate to Green Cross China for use in the production of FVIII. With its own supply of Cryoprecipitate and its continued research and development of FVIII, the Company has obtained approval to commence clinical trial for 200 IU and 300 IU per dose of FVIII.
China Biologic has commenced preparations for the clinical study and expects to receive results by mid-2009. If the clinical study is successful, management expects to get SFDA's approval for production to launch the product at the beginning of 2010.
"We are pleased that our continued focus on research and development has led us to receive approval from the SFDA for clinical trial of FVIII," said Mr. Chao Ming Zhao, the Company's CEO. "The approval represents a significant milestone on diversifying our product portfolio. In addition, we believe our ability to produce Cryoprecipitate from clinical extra plasma - plasma that would have been discarded previously - will yield a higher gross profit margin in the production of FVIII."
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 research, development, production
and manufacturing and sale of plasma-based biopharmaceutical products to
|SOURCE China Biologic Products, Inc.|
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