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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
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»28/04/2010 [Company watch]
China Biologic Eligible for Provincial R&D Financial Support

China Biologic Products, Inc., which has been rolling up plasma-based companies in China, said its Shandong Taibang Biological Products subsidiary was named one of twelve model Shandong-based biopharmaceutical companies. The honor, which was conferred by the Shandong provincial government, makes Shandong Taibang eligible for financial subsidies and tax concessions to support new drug R&D.

 

China Biologic Products, Inc., which has been rolling up plasma-based companies in China, said its Shandong Taibang Biological Products subsidiary was named one of twelve model Shandong-based biopharmaceutical companies. The honor, which was conferred by the Shandong provincial government, makes Shandong Taibang eligible for financial subsidies and tax concessions to support new drug R&D.

The Shandong provincial government instituted the incentives to increase its local life sciences industry, which also includes TCM and medical equipment. Shandong expects its biopharma industry will introduce 10 to 15 new drugs and will generate about 20 billion RMB ($2.9 billion) in revenues by 2012. Shandong Taibang Biological has six projects in its pipeline that it hopes will qualify for the incentives.

"We are honored to be recognized by the Shandong government as a leading contributor in the province\'s biopharmaceutical industry," said Mr. Chao Ming Zhao, China Biologic\'s CEO. "We are encouraged by the government\'s planned financial support of our industry and we hope to access and utilize such support through internal R&D and strategic partnerships to advance our technologies and capabilities, and strengthen the breadth and depth of our portfolio of plasma-based biopharmaceutical products."

China Biologic Products is the largest non-state-owned plasma-based biopharma in China. Its indirect majority-owned subsidiaries are Shandong Taibang Biological Products Co. Ltd. and Guiyang Dalin Biologic Technologies Co., Ltd. The company also has an equity investment in Xi\'an Huitian Blood Products Co., Ltd.


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