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China Biologic Reports Financial Results for the Second Quarter and First Half of 2013
Date:8/6/2013

stable as the overall market continues to show steady signs of growth, however we will continue to closely monitor market trends related to albumin import volume, and will adjust our pricing and product shipments accordingly. In the coming quarters, we aim to preserve our margins through transitioning to a more profitable product mix and implementing efficient cost control measures. We were glad to achieve improved plasma utilization efficiency following the launch of Factor VIII products. For the second quarter, sales of Factor VIII contributed approximately 2% of total sales and we expect its sales contribution to gradually increase in the long run."

"During the second quarter, our new plasma station in Cao County, Shandong Province commenced plasma collection operations. Additionally, our Shandong Taibang production facility obtained renewed GMP certification from the China Food and Drug Administration ("CFDA") at the end of June, ahead of schedule. Additionally, in Guizhou, we halted production at this facility on June 1st as planned and remain on track with the facility upgrade plan. We currently expect to resume production at Guizhou Taibang in the first quarter of 2014."

Mr. Gao concluded, "The Company announced that it is has entered into a redemption agreement with Ms. Lin Ling Li, an individual shareholder of the Company and her spouse, pursuant to which the Company agreed to redeem 1,479,704 shares of its common stock, representing approximately 5.49% of the total common stock outstanding on August 2, 2013.  The redemption price is $20.00 per share, and the redemption shares will become treasure stock of the Company upon closing of the redemption.  We believe this share redemption will improve China Biologic's shareholder structure, enhance shareholder value and benefit other existing shareholders of the company. "

Second Quarter 2013 Financial PerformanceTotal sales in the second quarter of 2013 were $53.6
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SOURCE China Biologic Products, Inc.
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