Nasdaq-listed China Biologic Products Inc has announced that it received approval from the Shandong Provincial Health and Family Planning Commission to build a new branch collection facility in Shandong Province.
China Biologic said in a statement that its majority-owned subsidiary Shandong Taibang Biological Products Co Ltd received the approval to build the facility, which will operate under the company’s Ningyang plasma collection station.
The company, which is a fully integrated plasma-based biopharmaceutical firm in China, will be a branch of the existing Ningyan plasma collection station.
“The approval of a new collection facility in Shandong represents meaningful progress in our endeavor to sustainably grow our plasma collection volume,” said David Gao, chairmand and CEO of China Biologic.
Gao added that the new branch collection facility will operate in addition to the existing eight plasma collection stations in this province.
“We will continue to devote our efforts to growing our plasma collection volume at our existing stations as well as building new collection facilities in strategic locations to maximize the utilization of our processing capabilities,” he said. – BusinessNewsAsia.com