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January 2, 2013
08:02 EDTCBPOChina Biologic announces update regarding production facility at Guizhou Taibang
China Biologic announced that the construction of a new production facility at its Guizhou Taibang subsidiary could be delayed due to slower-than-expected government approval of land use rights. The company is working closely with local authorities to secure approval as soon as possible and will inform investors once it makes material progress in these regards along with an updated schedule for when it expects to complete the new Guizhou facility. The company had expected to commence preparation work for this project in late 2012 and complete the project by mid 2014. The company expects to halt production at its existing production facility in Guizhou by the end of 2013 as a more stringent Good Manufacturing Practice standard enacted by China's State FDA goes into effect. China Biologic is evaluating the possible impacts of a production suspension in Guizhou by the end of 2013 and the delay of the construction of the new facility, including, among others, the possible reduction in sales revenue and possible additional investment in GMP upgrading. To mitigate possible negative impacts and ensure supply continuity, the company is also evaluating the feasibility of reallocating certain production resources, options to build up inventory, and the feasibility of adjusting shipping plans for 2013.
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January 28, 2016
14:05 EDTCBPOParfield reports 5.1% passive stake in China Biologic

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