China Biologic announced that the company's majority-owned subsidiary, Shandong Taibang Biological Products, has received the operating permit from local authorities to commence plasma collection at its new branch collection facility in Ju County in Rizhao City, Shandong Province.
The company announced the receipt of approval to build one new plasma collection station in Ju County and one branch collection center in Feicheng County, respectively, in January 2017. The new Ju County station covers a collection territory of approximately 3 million people. The company expects the new station to reach its designed collection capacity in approximately three years.
"We are pleased to receive the operating permit and launch trial operations at our Ju County collection facility in Shandong Province. We also expect our new branch center in Feicheng County to complete its construction and obtain an operating permit in early 2018,” Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, said. “Together with the other nine plasma collection stations we operate in Shandong Province, this new facility is expected to contribute to the overall growth of our plasma collection volume over time. We intend to expand our plasma collection footprint in the Shandong region to meet the increasing market demands for plasma protein therapeutics in China."