Jul 11 2011
China Biologic Products, Inc. (Nasdaq: CBPO, "China Biologic" or the "Company"), one of the leading plasma-based biopharmaceutical companies in the People's Republic of China, today announced that it has received the permit from the Shandong Province Health Department for the newly built plasma collection station in Ningyang County, Shandong Province, and expects to begin commercial plasma collection at the Ningyang station on July 12, 2011.
The Company received approval to build two new plasma collection stations in Yishui and Ningyang Counties in May 2010. The Yishui station began collecting plasma in December 2010. With the opening of the Ningyang station, China Biologic owns seven of the eight plasma collection stations in Shandong Province.
"We are very pleased to begin operating tomorrow at our new Ningyang collection station in Shandong Province," said Mr. Chao Ming Zhao, Chief Executive Officer of China Biologic. "The Ningyang and Yishui stations have a combined designed annual capacity of about 80 metric tons of plasma. We expect to increase the volume of plasma collected there until we are at or near the designed annual capacity for those two stations, which we believe is likely to occur in 2014."
Source:
China Biologic Products, Inc.