Blog Coverage China Biologic Takes Full Ownership of Guizhou Taibang

LONDON, UK / ACCESSWIRE / October 27, 2016 / Active Wall St. blog coverage looks at the headline from China Biologic Products, Inc. (NASDAQ: CBPO). The company announced that it has completed the acquisition of Guizhou Taibang Biological Products Co. Ltd. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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The Agreement

On July 31, 2016, Guizhou Taibang Biological Products, a wholly-owned subsidiary of China Biologic Products, and Guiyang Dalin Biotechnology Co., Ltd. a majority shareholder of Guizhou Taibang, entered into an agreement with Guizhou Jie’an and Shenzhen Yigong Shengda Technology Co., Ltd., two minority interest holders of Guizhou Taibang. Pursuant to this agreement, Jie’an and Yigong Shengda agreed to withdraw all of their capital contribution in Guizhou Taibang for an aggregate consideration of RMB415.0 million (approximately US$62.6 million).

Guizhou Taibang paid the first installment of RMB90 million (approximately US$13.5 million) of the consideration to such former minority shareholders in August 2016 and will pay the balance of the consideration in accordance with the agreement. As a result of the capital withdrawal, Guizhou Taibang has become a wholly owned subsidiary of the China Biologic Products.

Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented:

“We are pleased to announce the completion of the requisite procedures for capital withdrawal and acquire full equity ownership of Guizhou Taibang. Over the past several years, we have successfully focused on expanding production capacity and enhancing efficiency at Guizhou Taibang while also increasing our equity ownership from 54% to 100% after this capital withdrawal. We expect that our full ownership of the Guizhou facility will have positive impact on our 2016 earnings results through additional earnings accretion and, more importantly, will enable us to capture full benefits from future growth opportunity at our Guizhou facility.”

China Biologic Receives CFDA Clinical Trial Approval for Human Antithrombin III

On October 11th, 2016, China Biologic announced that Shandong Taibang Biological Products Co. Ltd., the Company’s majority-owned subsidiary, recently obtained approval from the China Food and Drug Administration (CFDA) to begin human clinical trials on its Human Antithrombin III (“ATIII”) product.

ATIII is intended to treat hereditary and acquired ATIII deficiency in connection with surgical or obstetrical procedures, and to treat thromboembolism. No manufacturer in China currently offers plasma-derived ATIII product. China Biologic expects to commence clinical trials for the ATIII product in 2017 and complete the trials in two years or longer.

Stock Performance

At the close of trading session on October 26, 2016, China Biologic Products’ stock price rose 3.79% from its previous close of $114.92 to end the day at $119.28. A total volume of 198.53 thousand shares were exchanged during the session. The company’s share price has gained 11.82% in the past twelve months. The stock currently has a market cap of $3.25 billion.

Earnings Alert: The company will release its Q3 2016 financial results on November 2nd, 2016, after the market closes and its management will hold a conference call at 7:30 a.m. ET on November 3rd, 2016.

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