TAI'AN,
The article, which was written by an investor who disclosed a short
position in the Company, highlighted the circumstances surrounding a
The circumstances surrounding the Company's formation, including the various legal proceedings have been disclosed in the Company's public filings with the US Securities and Exchange Commission ("SEC"). In particular, the legality of the equity transfer among the original founders has been confirmed by various PRC courts and has withstood several appeals by Dr. Du. Furthermore, in early 2007, the Company engaged Control Risks Group, a private risk consultancy firm specializing in investigative services, 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.
"The Board takes these allegations seriously and plans to thoroughly
investigate these issues using an independent third party," said Mr.
The article also speculates on the recent departure of one of the
Company's independent directors, Dr.
About China Biologic Products, Inc.
China Biologic Products, Inc. (the "Company"), through its indirect
majority-owned subsidiaries, Shandong Taibang Biological Products Co. Ltd. and
Guiyang Dalin Biologic Technologies Co., Ltd, and its equity investment in
Xi'an Huitian Blood Products Co., Ltd., is currently the largest
non-state-owned plasma-based biopharmaceutical company in
Safe Harbor Statement
This release may contain certain "forward-looking statements" relating to the business of China Biologic Products, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the outcome of the investigation by the special subcommittee of the board of directors; the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Company Contact: Mr. Y. Tristan Kuo Chief Financial Officer China Biologic Products, Inc. Phone: +86-538-6202206 Email: IR@chinabiologic.com Web: http://www.chinabiologic.com Investor Relations Contact: CCG Investor Relations Ms. Elaine Ketchmere, Partner Phone: +1-310-954-1345 Email: elaine.ketchmere@ccgir.com Mr. Crocker Coulson, President Phone: +1-646-213-1915 Email: crocker.coulson@ccgir.com Web: http://www.ccgirasia.com
SOURCE China Biologic Products, Inc.