China Biologic Products

chinabiologic.com

China Biologic Products, Inc., through its indirect majority-owned subsidiary Shandong Taibang, is the only blood plasma-based biopharmaceutical company approved by the government of Shandong Province, the second largest province in China with a population of 93 million. The company is engaged in research, manufacturing, and sale of plasma-based biopharmaceutical products to hospitals and other health care facilities in China. Plasma-based human albumin is used mainly to increase blood volume while Immunoglobulin is used for disease prevention and treatment. Wikipedia.

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News Article | August 2, 2017
Site: www.prnewswire.com

BEIJING, Aug. 2, 2017 /PRNewswire/ -- China Biologic Products Holdings, Inc. (NASDAQ: CBPO, "China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced on behalf of its predecessor China Biologic Products, Inc. the unaudited financial results of China Biologic Products, Inc. for the second quarter of 2017. Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, "Our second quarter financial results were impacted by several factors, including government healthcare reform measures, greater market competition in the plasma category and slower volume growth due to the planned production suspension at our Shandong facility. Required government healthcare reform measures implemented by hospitals, which include the 'zero markup for drugs' policy and greater control over the ratio of drug sales to total hospital revenue, resulted in slower revenue growth for our primary plasma products – albumin and IVIG.  Additionally, we experienced intensified competition for plasma product sales in the distributor channel as a result of faster-than-expected implementation of the two invoice policy nationwide as well as higher albumin import volume, resulting in lower albumin sales volume in the second quarter of 2017. We experienced a number of developments in the second quarter which supported our growth. Our past efforts to pursue direct sales to hospitals resulted in more stabilized albumin and IVIG pricing and a moderate volume growth in this channel compared to the more competitive distributor channel. We were also actively pursuing new sales channels and strategic partners including new distributors and retail pharmacy chains. Sales from newer products including our higher margin hyper-immune products and coagulation factor products continued to experience a healthy volume growth and represent a higher percentage of total sales, contributing to our year-over-year improvement in gross margin and non-GAAP net margin in the second quarter. We continued to advance with our new facility construction and R&D development. At our new Shandong facility, we completed the first phase of production suspension at the old facility to pursue the new facility's simulation test, and the second phase of production suspension for trial operation remains on track. We continue to expect completion of the GMP certificate inspection and commencement of operations at the new site by the end of this year. On the R&D front, we expect to receive the final approval of Fibrinogen by the CFDA in the third quarter and aim to generate sales before the end of the year." "As we move into the second half of 2017, we are expecting the implementation of certain government healthcare policies that could potentially result in positive impacts on our business, including broadened reimbursable indications and increased reimbursable maximums for our major plasma products, once various revised provincial drug reimbursement lists are implemented. We also expect possible improved product pricing in Shandong and Jiangsu at the conclusion of the long awaited tendering process. We remain focused on completing our new plant construction and shortening our production shut down time for GMP approval at our Shandong facility, maximizing market share within existing distribution channels and developing new strategies to expand our sales channels, successfully managing public tenders in various local markets to secure optimized pricing opportunities, further investing in our medical marketing platform to accelerate volume for newly launched products, introducing promising clinical-stage products to the market, and exploring new business growth opportunities. Finally, we reiterate our full year financial forecast and believe we can enhance our total sales and operating efficiency to meet growing market demand in the quarters ahead," concluded Mr. Gao. Total sales in the second quarter of 2017 increased by 2.5% in RMB terms, or decreased by 2.3% in USD terms, to $89.3 million from $91.4 million in the same quarter of 2016. The increase was primarily attributable to the sales increase in hyper-immune products, mainly including human rabies immunoglobulin and human tetanus immunoglobulin, partially offset by the decrease of sales in human albumin products and placenta polypeptide products. During the second quarter of 2017, human albumin and IVIG products remained the two largest sales contributors. As a percentage of total sales, sales from human albumin products decreased to 36.3% in the second quarter of 2017, compared to 41.2% in the same quarter of 2016. The sales volume of human albumin products decreased by 7.4% in the second quarter of 2017. The decrease largely reflected the inventory control associated with the production suspension at the Shandong facility, as well as the negative impact of recent changes in market dynamics, including intensified market competition in distribution channels and government healthcare reform measures limiting hospitals' purchase power. Revenue from IVIG products accounted for 33.3% of total sales in the second quarter of 2017, as compared to 33.6% in the same quarter of 2016. The sales volume of IVIG products remained stable in the second quarter of 2017. The average price for human albumin products decreased by 2.7% and 7.3% in RMB and in USD terms, respectively, in the second quarter of 2017, mainly due to the combined effect of both a decrease in price we charged certain distributors reflecting the intensified market competition and a lower sales proportion from the higher-unit-price dosages. The average price for IVIG products, excluding foreign exchange impact, would have increased by 1.2% in RMB terms, or decreased by 3.6% in USD terms, in the second quarter of 2017 compared to the same quarter of 2016. Revenue from other immunoglobulin products increased by 54.9% in USD terms in the second quarter of 2017 compared to the same quarter of 2016, reaching 14.2% of total sales, as compared to 9.0% of total sales in the same quarter of 2016, mainly due to sales increase of human rabies immunoglobulin and human tetanus immunoglobulin, which reflected our enhanced production volume in response to strong market demand in the second quarter of 2017 compared with the same period last year. And revenue from human coagulation factor VIII and human prothrombin complex concentrate, which are included in other plasma products, also increased by 47.2% and 40.1% in RMB term and USD term, respectively, in the second quarter of 2017 compared to the same quarter of 2016, representing 5.9% of total sales as compared to 4.3% of total sales in the same quarter of 2016. This reflects our continued medical marketing activities. Revenue from placenta polypeptide products decreased by 11.1% and 15.6% in RMB terms and USD terms, respectively, in the second quarter of 2017 compared to the same quarter of 2016, reaching 10.3% of total sales, attributable to a decrease in sales volume in the second quarter of 2017 following higher-than-normal product sales volume in the first quarter of 2017, compared with a high comparison base in the same period in 2016. Cost of sales was $30.1 million in the second quarter of 2017, down 4.4% from $31.5 million in the same quarter of 2016. As a percentage of total sales, cost of sales slightly decreased to 33.7%, as compared to 34.4% in the same quarter of 2016. The decrease was mainly due to a greater proportion of sales derived from hyper-immune products with a high profit margin. Gross profit decreased by 1.2% to $59.2 million in the second quarter of 2017 from $59.9 million in the same quarter of 2016. Gross margin was 66.3% and 65.6% in the second quarter of 2017 and 2016, respectively. Total operating expenses in the second quarter of 2017 increased by 17.2% to $19.8 million from $16.9 million in the same quarter of 2016, mainly due to increases in general and administrative expenses. As a percentage of total sales, total operating expenses increased to 22.2% in the second quarter of 2017 from 18.5% in the same quarter of 2016. Selling expenses in the second quarter of 2017 increased by 20.0% to $3.6 million from $3.0 million in the same quarter of 2016. As a percentage of total sales, selling expenses increased to 4.0% in the second quarter in 2017 from 3.3% the same quarter of 2016, primarily due to higher marketing and promotion costs related to certain hyper-immune products, coagulation factor products and placenta polypeptide products. General and administrative expenses in the second quarter of 2017 increased by 13.5% to $14.3 million compared to $12.6 million in the same quarter of 2016. As a percentage of total sales, general and administrative expenses increased to 16.0% in the second quarter of 2017 from 13.8% in the same quarter of 2016. The increase in general and administrative expenses was mainly due to a $3.4 million increase in share-based compensation expenses. We also had a $1.2 million prepayment provision in the second quarter of 2016. Excluding the impact of share-based compensation expenses, general and administrative expenses would have been 6.9% and 8.6% as a percentage of total sales in the second quarter of 2017 and 2016, respectively. Research and development expenses in the second quarter of 2017 increased by 46.2% to $1.9 million from $1.3 million in the same quarter of 2016, primarily due to increased expenditures incurred for certain clinical trial programs in the second quarter 2017. Income from operations for the second quarter of 2017 decreased by 8.4% to $39.4 million from $43.0 million in the same period of 2016. Operating margin decreased to 44.1% in the second quarter of 2017 from 47.1% in the same quarter of 2016. Income tax expense in the second quarter of 2017 was $6.9 million, compared to $7.0 million in the same quarter of 2016, representing a decrease of 1.4%. The effective income tax rate was 16.5% and 15.7% in the second quarter of 2017 and 2016, respectively. Net income attributable to China Biologic Products, Inc. was $31.0 million in the second quarter of 2017 as compared to $30.8 million in the same quarter of 2016. Net margin increased to 34.8% compared to 33.6% in the same quarter of 2016. Diluted earnings per share was $1.09 in the second quarter of 2017 compared to $1.10 in the same quarter of 2016. Non-GAAP adjusted net income attributable to China Biologic Products, Inc. increased by 15.0% in RMB terms, or 9.4% in USD terms, to $38.5 million in the second quarter of 2017 from $35.2 million in the same quarter of 2016. Non-GAAP net margin increased to 43.1% from 38.5% in the same quarter of 2016. Non-GAAP adjusted earnings per diluted share increased to $1.35 in the second quarter of 2017 from $1.26 in the same quarter of 2016. Non-GAAP adjusted net income and diluted earnings per share exclude non-cash employee share-based compensation expenses of $7.5 million and $4.4 million, for the three months ended June 30, 2017 and 2016, respectively. Total sales in the first half of 2017 increased by 7.4% in RMB terms, or 2.1% in USD terms, to $180.7 million from $177.0 million in the same period of 2016. The increase in sales was primarily attributable to a sales increase in placenta polypeptide products, certain hyper-immune products and human albumin. As a percentage of total sales, sales from human albumin products and IVIG products accounted for 38.3% and 34.0%, respectively, for the first half of 2017. Cost of sales decreased by 4.9% to $62.3 million in the first half of 2017, compared to $65.5 million in the same period of 2016. Cost of sales as a percentage of total sales was 34.5%, a decrease from 37.0% in the same period of 2016. The decrease in cost of sales as a percentage of total sales was mainly due to a greater sales proportion of higher-margin hyper-immune products and placenta polypeptide products, as well as lower sales proportion of high-cost outsourced raw plasma. Gross profit increased by 6.2% to $118.4 million in the first half of 2017 from $111.5 million in the same period of 2016. Gross margin was 65.5% in the first half of 2017, compared to 63.0% in the same period of 2016. Total operating expenses in the first half of 2017 increased 31.4% to $40.2 million from $30.6 million in the same period of 2016. As a percentage of total sales, total operating expenses increased to 22.2% for the first half of 2017 from 17.3% in the same period of 2016, mainly due to an increase in selling, general and administrative expenses. Income from operations in the first half of 2017 decreased by 3.3% to $78.2 million from $80.9 million in the same period of 2016. Income tax expense in the first half of 2017 was $13.8 million, as compared to $13.6 million in the same period of 2016. The effective income tax rate was 16.6% and 16.2% for the first half of 2017 and 2016, respectively. Net income attributable to China Biologic Products, Inc. increased by 7.0% to $61.0 million for the first half of 2017 from $57.0 million in the same period of 2016. Net margin was 33.8% and 32.2% for the first half of 2017 and 2016, respectively. Non-GAAP adjusted net income attributable to China Biologic Products, Inc. increased by 21.8% in RMB terms, or 15.7% in USD terms, to $75.9 million in the first half of 2017 from $65.6 million in the same period of 2016. Non-GAAP adjusted earnings per diluted share increased to $2.67 for the first half of 2017 from $2.36 in the same period of 2016. Non-GAAP adjusted net income and diluted earnings per share exclude non-cash employee share-based compensation expenses of $14.9 million and $8.6 million, for the first half of 2017 and 2016, respectively. As of June 30, 2017, China Biologic Products, Inc. had $223.2 million in cash and cash equivalents, primarily consisting of cash on hand and demand deposits. Net cash provided by operating activities for the first half of 2017 was $36.9 million, as compared to $57.0 million for the same period in 2016. The decrease in net cash provided by operating activities was largely due to increases in accounts receivable and inventories. Accounts receivable increased by $26.1 million during the first half of 2017, as compared to $13.9 million during the same period in 2016. The accounts receivable turnover days for plasma products increased to 51 days during the first half of 2017 from 35 days during the same period in 2016, which was a combined result of a higher percentage of direct sales and a higher concentration of large hospital customers and distributor customers that typically request longer credit terms Inventories increased by $22.8 million in the first half of 2017, mainly comprising of increases in outsourced and self-collected raw material plasma. This increase was higher than the inventory increase of $12.5 million during the same period in 2016, primarily because of the inventory stockpile to prepare for the planned temporary production suspension at the Shandong facility. Net cash used in investing activities for the first half of 2017 was $16.6 million, as compared to $26.3 million for the same period in 2016. During the first half of 2017 and 2016, China Biologic Products, Inc. paid $16.6 million and $26.6 million, respectively, for the acquisition of property, plant and equipment, land use rights and intangible assets for Shandong Taibang and Guizhou Taibang. In addition, during the six months ended June 30, 2016, China Biologic Products, Inc. granted a loan of $6.3 million to Xinjiang Deyuan pursuant to a cooperation agreement in August 2015. Net cash provided by financing activities for the first half of 2017 was $14.8 million, as compared to $32.2 million for the same period in 2016. Net cash provided by financing activities in the first half of 2017 mainly consisted of $14.3 million short-term loan net proceeds. Net cash provided by financing activities for the first half of 2016 mainly consisted of $2.4 million proceeds from the exercise of stock options and the maturity of a $37.8 million time deposit as a security collateral for a 24-month loan which was fully repaid in June 2015, partially offset by a dividend of $7.9 million paid to the noncontrolling shareholder by Shandong Taibang. The Company reiterates its full year 2017 financial forecast of total sales growth of 13% to 15% in RMB terms and non-GAAP adjusted net income growth of 18% to 20% in RMB terms over 2016 financial results. This forecast factors into a cumulative three month production suspension at the Company's Shandong facility in connection with plant transition. This guidance does not factor in any potential foreign currency translation impact. Having previously adopted an exchange rate of approximately RMB6.63 = $1.00 based on weighted average quarterly exchange rates in 2016 in translating 2016 financial results, the Company expects that the total sales and non-GAAP adjusted net income in USD terms in 2017 will be adversely affected by the foreign currency translation impact. This guidance also assumes only organic growth, excluding potential acquisitions, and necessarily assumes no significant adverse product price changes during 2017. This forecast reflects the Company's current and preliminary views, which are subject to change. The Company will host a conference call at 7:30 am Eastern Time on Thursday, August 3, 2017, which is 7:30 pm Beijing Time on August 3, 2017, to discuss second quarter  2017 results and answer questions from investors. Listeners may access the call by dialing: A telephone replay will be available one hour after the conclusion of the conference all through August 10, 2017. The dial-in details are: A live and archived webcast of the conference call will be available through the Company's investor relations website at http://chinabiologic.investorroom.com. China Biologic Products Holdings, Inc. (NASDAQ: CBPO) is a leading fully integrated plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products through its indirect majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd. and its wholly owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals, distributors and other healthcare facilities in China. For additional information, please see the Company's website www.chinabiologic.com. This news release contains non-GAAP financial measures that exclude non-cash compensation expenses related to options and restricted shares granted to employees and directors under the Company's 2008 Equity Incentive Plan. To supplement the Company's unaudited condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release. The Company's management believes that its presentation of non-GAAP financial measures provides useful supplementary information to and facilitates additional analysis by investors. A reconciliation of the adjustments to GAAP results appears in the table accompanying this news release. This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies. This news release may contain certain "forward-looking statements" relating to the business of China Biologic Products Holdings, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein, are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "intend," "believe," "expect," "are expected to," "will," or similar expressions, and involve known and unknown risks and uncertainties. Among other things, the Company's plans regarding the production and sale of plasma products made from the purchased raw materials and the management's quotations and forecast of the Company's financial performance in this news release contain forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, without limitation, quality of purchased source plasma, potential delay or failure to complete construction of new collection facilities, potential inability to pass government inspection and certification process for existing and new facilities, potential inability to achieve the designed collection capacities at the new collection facilities, potential inability to achieve the expected operating and financial performance, potential inability to find alternative sources of plasma, potential inability to increase production at permitted sites, potential inability to mitigate the financial consequences of a temporarily reduced raw plasma supply through cost cutting or other efficiencies, and potential additional regulatory restrictions on its operations and those additional risks and uncertainties discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.


News Article | July 19, 2017
Site: www.prnewswire.com

A telephone replay will be available one hour after the conclusion of the conference call through August 10, 2017. The dial-in details are: A live and archived webcast of the conference call will be available through the Company's investor relations website at http://chinabiologic.investorroom.com/. China Biologic is a leading plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosages of plasma-based products through its majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd., and its wholly-owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals and inoculation centers, as well as distributors, in China. For additional information, please see the Company's website, www.chinabiologic.com.


News Article | July 19, 2017
Site: en.prnasia.com

BEIJING, July 19, 2017 /PRNewswire/ -- China Biologic Products, Inc. (NASDAQ: CBPO) ("China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced that the Company plans to release second quarter of 2017 financial results on Wednesday, August 2, 2017 after the market closes. The Company's management will hold a conference call at 7:30 a.m. ET on Thursday, August 3, 2017, which is 7:30 p.m., Beijing Time on August 3, 2017, to discuss second quarter of 2017 results. Listeners may access the call by dialing: A telephone replay will be available one hour after the conclusion of the conference call through August 10, 2017. The dial-in details are: A live and archived webcast of the conference call will be available through the Company's investor relations website at http://chinabiologic.investorroom.com/. China Biologic is a leading plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosages of plasma-based products through its majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd., and its wholly-owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals and inoculation centers, as well as distributors, in China. For additional information, please see the Company's website, www.chinabiologic.com.


News Article | August 2, 2017
Site: en.prnasia.com

--2Q17 Total Sales Up 2.5% YoY and Non-GAAP Adjusted Net Income Up 15.0% YoY in RMB terms, or Total Sales Down 2.3% YoY to $89.3 Million and Net Income Up 0.6% YoY to $31.0 Million in USD terms-- --1H17 Total Sales Up 7.4% YoY and Non-GAAP Adjusted Net Income Up 21.8% YoY in RMB terms, or Total Sales Up 2.1% YoY to $180.7 Million and Net Income Up 7.0% YoY to $61.0 Million in USD terms-- BEIJING, Aug. 3, 2017 /PRNewswire/ -- China Biologic Products Holdings, Inc. (NASDAQ: CBPO, "China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced on behalf of its predecessor China Biologic Products, Inc. the unaudited financial results of China Biologic Products, Inc. for the second quarter of 2017. Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, "Our second quarter financial results were impacted by several factors, including government healthcare reform measures, greater market competition in the plasma category and slower volume growth due to the planned production suspension at our Shandong facility. Required government healthcare reform measures implemented by hospitals, which include the 'zero markup for drugs' policy and greater control over the ratio of drug sales to total hospital revenue, resulted in slower revenue growth for our primary plasma products – albumin and IVIG.  Additionally, we experienced intensified competition for plasma product sales in the distributor channel as a result of faster-than-expected implementation of the two invoice policy nationwide as well as higher albumin import volume, resulting in lower albumin sales volume in the second quarter of 2017. We experienced a number of developments in the second quarter which supported our growth. Our past efforts to pursue direct sales to hospitals resulted in more stabilized albumin and IVIG pricing and a moderate volume growth in this channel compared to the more competitive distributor channel. We were also actively pursuing new sales channels and strategic partners including new distributors and retail pharmacy chains. Sales from newer products including our higher margin hyper-immune products and coagulation factor products continued to experience a healthy volume growth and represent a higher percentage of total sales, contributing to our year-over-year improvement in gross margin and non-GAAP net margin in the second quarter. We continued to advance with our new facility construction and R&D development. At our new Shandong facility, we completed the first phase of production suspension at the old facility to pursue the new facility's simulation test, and the second phase of production suspension for trial operation remains on track. We continue to expect completion of the GMP certificate inspection and commencement of operations at the new site by the end of this year. On the R&D front, we expect to receive the final approval of Fibrinogen by the CFDA in the third quarter and aim to generate sales before the end of the year." "As we move into the second half of 2017, we are expecting the implementation of certain government healthcare policies that could potentially result in positive impacts on our business, including broadened reimbursable indications and increased reimbursable maximums for our major plasma products, once various revised provincial drug reimbursement lists are implemented. We also expect possible improved product pricing in Shandong and Jiangsu at the conclusion of the long awaited tendering process. We remain focused on completing our new plant construction and shortening our production shut down time for GMP approval at our Shandong facility, maximizing market share within existing distribution channels and developing new strategies to expand our sales channels, successfully managing public tenders in various local markets to secure optimized pricing opportunities, further investing in our medical marketing platform to accelerate volume for newly launched products, introducing promising clinical-stage products to the market, and exploring new business growth opportunities. Finally, we reiterate our full year financial forecast and believe we can enhance our total sales and operating efficiency to meet growing market demand in the quarters ahead," concluded Mr. Gao. Total sales in the second quarter of 2017 increased by 2.5% in RMB terms, or decreased by 2.3% in USD terms, to $89.3 million from $91.4 million in the same quarter of 2016. The increase was primarily attributable to the sales increase in hyper-immune products, mainly including human rabies immunoglobulin and human tetanus immunoglobulin, partially offset by the decrease of sales in human albumin products and placenta polypeptide products. During the second quarter of 2017, human albumin and IVIG products remained the two largest sales contributors. As a percentage of total sales, sales from human albumin products decreased to 36.3% in the second quarter of 2017, compared to 41.2% in the same quarter of 2016. The sales volume of human albumin products decreased by 7.4% in the second quarter of 2017. The decrease largely reflected the inventory control associated with the production suspension at the Shandong facility, as well as the negative impact of recent changes in market dynamics, including intensified market competition in distribution channels and government healthcare reform measures limiting hospitals' purchase power. Revenue from IVIG products accounted for 33.3% of total sales in the second quarter of 2017, as compared to 33.6% in the same quarter of 2016. The sales volume of IVIG products remained stable in the second quarter of 2017. The average price for human albumin products decreased by 2.7% and 7.3% in RMB and in USD terms, respectively, in the second quarter of 2017, mainly due to the combined effect of both a decrease in price we charged certain distributors reflecting the intensified market competition and a lower sales proportion from the higher-unit-price dosages. The average price for IVIG products, excluding foreign exchange impact, would have increased by 1.2% in RMB terms, or decreased by 3.6% in USD terms, in the second quarter of 2017 compared to the same quarter of 2016. Revenue from other immunoglobulin products increased by 54.9% in USD terms in the second quarter of 2017 compared to the same quarter of 2016, reaching 14.2% of total sales, as compared to 9.0% of total sales in the same quarter of 2016, mainly due to sales increase of human rabies immunoglobulin and human tetanus immunoglobulin, which reflected our enhanced production volume in response to strong market demand in the second quarter of 2017 compared with the same period last year. And revenue from human coagulation factor VIII and human prothrombin complex concentrate, which are included in other plasma products, also increased by 47.2% and 40.1% in RMB term and USD term, respectively, in the second quarter of 2017 compared to the same quarter of 2016, representing 5.9% of total sales as compared to 4.3% of total sales in the same quarter of 2016. This reflects our continued medical marketing activities. Revenue from placenta polypeptide products decreased by 11.1% and 15.6% in RMB terms and USD terms, respectively, in the second quarter of 2017 compared to the same quarter of 2016, reaching 10.3% of total sales, attributable to a decrease in sales volume in the second quarter of 2017 following higher-than-normal product sales volume in the first quarter of 2017, compared with a high comparison base in the same period in 2016. Cost of sales was $30.1 million in the second quarter of 2017, down 4.4% from $31.5 million in the same quarter of 2016. As a percentage of total sales, cost of sales slightly decreased to 33.7%, as compared to 34.4% in the same quarter of 2016. The decrease was mainly due to a greater proportion of sales derived from hyper-immune products with a high profit margin. Gross profit decreased by 1.2% to $59.2 million in the second quarter of 2017 from $59.9 million in the same quarter of 2016. Gross margin was 66.3% and 65.6% in the second quarter of 2017 and 2016, respectively. Total operating expenses in the second quarter of 2017 increased by 17.2% to $19.8 million from $16.9 million in the same quarter of 2016, mainly due to increases in general and administrative expenses. As a percentage of total sales, total operating expenses increased to 22.2% in the second quarter of 2017 from 18.5% in the same quarter of 2016. Selling expenses in the second quarter of 2017 increased by 20.0% to $3.6 million from $3.0 million in the same quarter of 2016. As a percentage of total sales, selling expenses increased to 4.0% in the second quarter in 2017 from 3.3% the same quarter of 2016, primarily due to higher marketing and promotion costs related to certain hyper-immune products, coagulation factor products and placenta polypeptide products. General and administrative expenses in the second quarter of 2017 increased by 13.5% to $14.3 million compared to $12.6 million in the same quarter of 2016. As a percentage of total sales, general and administrative expenses increased to 16.0% in the second quarter of 2017 from 13.8% in the same quarter of 2016. The increase in general and administrative expenses was mainly due to a $3.4 million increase in share-based compensation expenses. We also had a $1.2 million prepayment provision in the second quarter of 2016. Excluding the impact of share-based compensation expenses, general and administrative expenses would have been 6.9% and 8.6% as a percentage of total sales in the second quarter of 2017 and 2016, respectively. Research and development expenses in the second quarter of 2017 increased by 46.2% to $1.9 million from $1.3 million in the same quarter of 2016, primarily due to increased expenditures incurred for certain clinical trial programs in the second quarter 2017. Income from operations for the second quarter of 2017 decreased by 8.4% to $39.4 million from $43.0 million in the same period of 2016. Operating margin decreased to 44.1% in the second quarter of 2017 from 47.1% in the same quarter of 2016. Income tax expense in the second quarter of 2017 was $6.9 million, compared to $7.0 million in the same quarter of 2016, representing a decrease of 1.4%. The effective income tax rate was 16.5% and 15.7% in the second quarter of 2017 and 2016, respectively. Net income attributable to China Biologic Products, Inc. was $31.0 million in the second quarter of 2017 as compared to $30.8 million in the same quarter of 2016. Net margin increased to 34.8% compared to 33.6% in the same quarter of 2016. Diluted earnings per share was $1.09 in the second quarter of 2017 compared to $1.10 in the same quarter of 2016. Non-GAAP adjusted net income attributable to China Biologic Products, Inc. increased by 15.0% in RMB terms, or 9.4% in USD terms, to $38.5 million in the second quarter of 2017 from $35.2 million in the same quarter of 2016. Non-GAAP net margin increased to 43.1% from 38.5% in the same quarter of 2016. Non-GAAP adjusted earnings per diluted share increased to $1.35 in the second quarter of 2017 from $1.26 in the same quarter of 2016. Non-GAAP adjusted net income and diluted earnings per share exclude non-cash employee share-based compensation expenses of $7.5 million and $4.4 million, for the three months ended June 30, 2017 and 2016, respectively. Total sales in the first half of 2017 increased by 7.4% in RMB terms, or 2.1% in USD terms, to $180.7 million from $177.0 million in the same period of 2016. The increase in sales was primarily attributable to a sales increase in placenta polypeptide products, certain hyper-immune products and human albumin. As a percentage of total sales, sales from human albumin products and IVIG products accounted for 38.3% and 34.0%, respectively, for the first half of 2017. Cost of sales decreased by 4.9% to $62.3 million in the first half of 2017, compared to $65.5 million in the same period of 2016. Cost of sales as a percentage of total sales was 34.5%, a decrease from 37.0% in the same period of 2016. The decrease in cost of sales as a percentage of total sales was mainly due to a greater sales proportion of higher-margin hyper-immune products and placenta polypeptide products, as well as lower sales proportion of high-cost outsourced raw plasma. Gross profit increased by 6.2% to $118.4 million in the first half of 2017 from $111.5 million in the same period of 2016. Gross margin was 65.5% in the first half of 2017, compared to 63.0% in the same period of 2016. Total operating expenses in the first half of 2017 increased 31.4% to $40.2 million from $30.6 million in the same period of 2016. As a percentage of total sales, total operating expenses increased to 22.2% for the first half of 2017 from 17.3% in the same period of 2016, mainly due to an increase in selling, general and administrative expenses. Income from operations in the first half of 2017 decreased by 3.3% to $78.2 million from $80.9 million in the same period of 2016. Income tax expense in the first half of 2017 was $13.8 million, as compared to $13.6 million in the same period of 2016. The effective income tax rate was 16.6% and 16.2% for the first half of 2017 and 2016, respectively. Net income attributable to China Biologic Products, Inc. increased by 7.0% to $61.0 million for the first half of 2017 from $57.0 million in the same period of 2016. Net margin was 33.8% and 32.2% for the first half of 2017 and 2016, respectively. Non-GAAP adjusted net income attributable to China Biologic Products, Inc. increased by 21.8% in RMB terms, or 15.7% in USD terms, to $75.9 million in the first half of 2017 from $65.6 million in the same period of 2016. Non-GAAP adjusted earnings per diluted share increased to $2.67 for the first half of 2017 from $2.36 in the same period of 2016. Non-GAAP adjusted net income and diluted earnings per share exclude non-cash employee share-based compensation expenses of $14.9 million and $8.6 million, for the first half of 2017 and 2016, respectively. As of June 30, 2017, China Biologic Products, Inc. had $223.2 million in cash and cash equivalents, primarily consisting of cash on hand and demand deposits. Net cash provided by operating activities for the first half of 2017 was $36.9 million, as compared to $57.0 million for the same period in 2016. The decrease in net cash provided by operating activities was largely due to increases in accounts receivable and inventories. Accounts receivable increased by $26.1 million during the first half of 2017, as compared to $13.9 million during the same period in 2016. The accounts receivable turnover days for plasma products increased to 51 days during the first half of 2017 from 35 days during the same period in 2016, which was a combined result of a higher percentage of direct sales and a higher concentration of large hospital customers and distributor customers that typically request longer credit terms Inventories increased by $22.8 million in the first half of 2017, mainly comprising of increases in outsourced and self-collected raw material plasma. This increase was higher than the inventory increase of $12.5 million during the same period in 2016, primarily because of the inventory stockpile to prepare for the planned temporary production suspension at the Shandong facility. Net cash used in investing activities for the first half of 2017 was $16.6 million, as compared to $26.3 million for the same period in 2016. During the first half of 2017 and 2016, China Biologic Products, Inc. paid $16.6 million and $26.6 million, respectively, for the acquisition of property, plant and equipment, land use rights and intangible assets for Shandong Taibang and Guizhou Taibang. In addition, during the six months ended June 30, 2016, China Biologic Products, Inc. granted a loan of $6.3 million to Xinjiang Deyuan pursuant to a cooperation agreement in August 2015. Net cash provided by financing activities for the first half of 2017 was $14.8 million, as compared to $32.2 million for the same period in 2016. Net cash provided by financing activities in the first half of 2017 mainly consisted of $14.3 million short-term loan net proceeds. Net cash provided by financing activities for the first half of 2016 mainly consisted of $2.4 million proceeds from the exercise of stock options and the maturity of a $37.8 million time deposit as a security collateral for a 24-month loan which was fully repaid in June 2015, partially offset by a dividend of $7.9 million paid to the noncontrolling shareholder by Shandong Taibang. The Company reiterates its full year 2017 financial forecast of total sales growth of 13% to 15% in RMB terms and non-GAAP adjusted net income growth of 18% to 20% in RMB terms over 2016 financial results. This forecast factors into a cumulative three month production suspension at the Company's Shandong facility in connection with plant transition. This guidance does not factor in any potential foreign currency translation impact. Having previously adopted an exchange rate of approximately RMB6.63 = $1.00 based on weighted average quarterly exchange rates in 2016 in translating 2016 financial results, the Company expects that the total sales and non-GAAP adjusted net income in USD terms in 2017 will be adversely affected by the foreign currency translation impact. This guidance also assumes only organic growth, excluding potential acquisitions, and necessarily assumes no significant adverse product price changes during 2017. This forecast reflects the Company's current and preliminary views, which are subject to change. The Company will host a conference call at 7:30 am Eastern Time on Thursday, August 3, 2017, which is 7:30 pm Beijing Time on August 3, 2017, to discuss second quarter  2017 results and answer questions from investors. Listeners may access the call by dialing: A telephone replay will be available one hour after the conclusion of the conference all through August 10, 2017. The dial-in details are: A live and archived webcast of the conference call will be available through the Company's investor relations website at http://chinabiologic.investorroom.com. China Biologic Products Holdings, Inc. (NASDAQ: CBPO) is a leading fully integrated plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products through its indirect majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd. and its wholly owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals, distributors and other healthcare facilities in China. For additional information, please see the Company's website www.chinabiologic.com. This news release contains non-GAAP financial measures that exclude non-cash compensation expenses related to options and restricted shares granted to employees and directors under the Company's 2008 Equity Incentive Plan. To supplement the Company's unaudited condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release. The Company's management believes that its presentation of non-GAAP financial measures provides useful supplementary information to and facilitates additional analysis by investors. A reconciliation of the adjustments to GAAP results appears in the table accompanying this news release. This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies. This news release may contain certain "forward-looking statements" relating to the business of China Biologic Products Holdings, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein, are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "intend," "believe," "expect," "are expected to," "will," or similar expressions, and involve known and unknown risks and uncertainties. Among other things, the Company's plans regarding the production and sale of plasma products made from the purchased raw materials and the management's quotations and forecast of the Company's financial performance in this news release contain forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, without limitation, quality of purchased source plasma, potential delay or failure to complete construction of new collection facilities, potential inability to pass government inspection and certification process for existing and new facilities, potential inability to achieve the designed collection capacities at the new collection facilities, potential inability to achieve the expected operating and financial performance, potential inability to find alternative sources of plasma, potential inability to increase production at permitted sites, potential inability to mitigate the financial consequences of a temporarily reduced raw plasma supply through cost cutting or other efficiencies, and potential additional regulatory restrictions on its operations and those additional risks and uncertainties discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.


News Article | February 24, 2017
Site: marketersmedia.com

WiseGuyReports.com adds Exclusive Research on “Thromboembolism - Pipeline Review, H1 2016” reports to its database. Pune, India - February 24, 2017 /MarketersMedia/ — Thromboembolism - Pipeline Review, H1 2016 Summary The report provides comprehensive information on the therapeutics under development for Thromboembolism, complete with analysis by stage of development, drug target, mechanism of action (MoA), route of administration (RoA) and molecule type. The report also covers the descriptive pharmacological action of the therapeutics, its complete research and development history and latest news and press releases. Additionally, the report provides an overview of key players involved in therapeutic development for Thromboembolism and features dormant and discontinued projects. GET SAMPLE REPORT @ https://www.wiseguyreports.com/sample-request/375988-thromboembolism-pipeline-review-h1-2016 Report features investigational drugs from across globe covering over 20 therapy areas and nearly 3,000 indications. Drug profiles featured in the report undergoes periodic review following a stringent set of processes to ensure that all the profiles are updated with the latest set of information. Additionally, various dynamic tracking processes ensure that the most recent developments are captured on a real time basis. The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage. Scope - The report provides a snapshot of the global therapeutic landscape of Thromboembolism - The report reviews pipeline therapeutics for Thromboembolism by companies and universities/research institutes based on information derived from company and industry-specific sources - The report covers pipeline products based on various stages of development ranging from pre-registration till discovery and undisclosed stages - The report features descriptive drug profiles for the pipeline products which includes, product description, descriptive MoA, R&D brief, licensing and collaboration details & other developmental activities - The report reviews key players involved Thromboembolism therapeutics and enlists all their major and minor projects - The report assesses Thromboembolism therapeutics based on drug target, mechanism of action (MoA), route of administration (RoA) and molecule type - The report summarizes all the dormant and discontinued pipeline projects - The report reviews latest news related to pipeline therapeutics for Thromboembolism Reasons to buy - Gain strategically significant competitor information, analysis, and insights to formulate effective R&D strategies - Identify emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage - Identify and understand important and diverse types of therapeutics under development for Thromboembolism - Identify potential new clients or partners in the target demographic - Develop strategic initiatives by understanding the focus areas of leading companies - Plan mergers and acquisitions effectively by identifying key players and it’s most promising pipeline therapeutics - Devise corrective measures for pipeline projects by understanding Thromboembolism pipeline depth and focus of Indication therapeutics - Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and scope - Modify the therapeutic portfolio by identifying discontinued projects and understanding the factors that drove them from pipeline Table of Content: Key Points Table of Contents 2 List of Tables 6 List of Figures 7 Introduction 8 Thromboembolism Overview 9 Therapeutics Development 10 Pipeline Products for Thromboembolism - Overview 10 Pipeline Products for Thromboembolism - Comparative Analysis 11 Thromboembolism - Therapeutics under Development by Companies 12 Thromboembolism - Therapeutics under Investigation by Universities/Institutes 13 Thromboembolism - Pipeline Products Glance 14 Late Stage Products 14 Clinical Stage Products 15 Early Stage Products 16 Thromboembolism - Products under Development by Companies 17 Thromboembolism - Products under Investigation by Universities/Institutes 18 Thromboembolism - Companies Involved in Therapeutics Development 19 Bayer AG 19 Cereno Scientific AB 20 China Biologic Products, Inc. 21 Daiichi Sankyo Company, Limited 22 F. Hoffmann-La Roche Ltd. 23 Gamma Therapeutics, Inc. 24 GlycoMimetics, Inc. 25 Green Cross Corporation 26 Ionis Pharmaceuticals, Inc. 27 Portola Pharmaceuticals, Inc. 28 …Continued ACCESS REPORT @ https://www.wiseguyreports.com/reports/375988-thromboembolism-pipeline-review-h1-2016 Get in touch: LinkedIn: www.linkedin.com/company/4828928 Twitter: https://twitter.com/WiseGuyReports Facebook: https://www.facebook.com/Wiseguyreports-1009007869213183/?fref=ts Contact Info:Name: Norah TrentOrganization: WiseGuy Reports Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028 Maharashtra, IndiaPhone: +1-646-845-9349 Source URL: http://marketersmedia.com/thromboembolism-pharmaceutical-and-healthcare-pipeline-review-h2/172847For more information, please visit http://www.wiseguyreports.comSource: MarketersMediaRelease ID: 172847


Browse 35 Tables and 11 Figures, 22 Companies, spread across 112 pages available at http://www.reportsnreports.com/reports/983974-hemophilia-b-pipeline-review-h1-2017.html . Hemophilia B market companies are Alnylam Pharmaceuticals Inc, Amarna Therapeutics BV, Bayer AG, Bioverativ Inc, Catalyst, Biosciences Inc, China Biologic Products Inc, CSL Ltd, Dimension Therapeutics Inc, Genethon SA, Green Cross Corp, MolMed SpA, Novo Nordisk A/S, OPKO Biologics Ltd, Pfizer Inc, Pharming Group NV, Promethera Biosciences SA, RegenxBio Inc, rEVO Biologics Inc, Sangamo Therapeutics Inc, Shire Plc, Spark Therapeutics Inc, UniQure NV. Market Hemophilia B key player's reviews involved in therapeutic development for Hemophilia B and features dormant and discontinued projects. The guide covers therapeutics under Development by Companies /Universities /Institutes, the molecules developed by Companies in Pre-Registration, Phase III, Phase II, Phase I, IND/CTA Filed, Preclinical and Discovery stages are 2, 2, 9, 4, 2, 7 and 3 respectively. Similarly, the Universities portfolio in Preclinical and Discovery stages comprises 2 and 1 molecules, respectively. Scope: The pipeline guide provides a snapshot of the global therapeutic landscape of Hemophilia B (Hematological Disorders). The pipeline guide reviews pipeline therapeutics for Hemophilia B (Hematological Disorders) by companies and universities/research institutes based on information derived from company and industry-specific sources. The pipeline guide covers pipeline products based on several stages of development ranging from pre-registration till discovery and undisclosed stages. The pipeline guide features descriptive drug profiles for the pipeline products which comprise, product description, descriptive licensing and collaboration details, R&D brief, MoA & other developmental activities. The Hemophilia B market pipeline guide reviews key companies involved in Hemophilia B (Hematological Disorders) therapeutics and enlists all their major and minor projects. The pipeline guide evaluates Hemophilia B (Hematological Disorders) therapeutics based on mechanism of action (MoA), drug target, route of administration (RoA) and molecule type. The pipeline guide encapsulates all the dormant and discontinued pipeline projects and latest news related to pipeline therapeutics for Hemophilia B (Hematological Disorders). Reasons to buy Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies. Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage. Find and recognize significant and varied types of therapeutics under development for Hemophilia B (Hematological Disorders). Classify potential new clients or partners in the target demographic. Develop tactical initiatives by understanding the focus areas of leading companies. Plan mergers and acquisitions meritoriously by identifying key players and it's most promising pipeline therapeutics. Formulate corrective measures for pipeline projects by understanding Hemophilia B (Hematological Disorders) pipeline depth and focus of Indication therapeutics. Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and scope. Adjust the therapeutic portfolio by recognizing discontinued projects and understand from the know-how what drove them from pipeline. Explore more reports on Pharmaceuticals at http://www.reportsnreports.com/market-research/pharmaceuticals/ . ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.


Browse 35 Tables and 11 Figures, 22 Companies, spread across 112 pages available at http://www.reportsnreports.com/reports/983974-hemophilia-b-pipeline-review-h1-2017.html . Hemophilia B market companies are Alnylam Pharmaceuticals Inc, Amarna Therapeutics BV, Bayer AG, Bioverativ Inc, Catalyst, Biosciences Inc, China Biologic Products Inc, CSL Ltd, Dimension Therapeutics Inc, Genethon SA, Green Cross Corp, MolMed SpA, Novo Nordisk A/S, OPKO Biologics Ltd, Pfizer Inc, Pharming Group NV, Promethera Biosciences SA, RegenxBio Inc, rEVO Biologics Inc, Sangamo Therapeutics Inc, Shire Plc, Spark Therapeutics Inc, UniQure NV. Market Hemophilia B key player's reviews involved in therapeutic development for Hemophilia B and features dormant and discontinued projects. The guide covers therapeutics under Development by Companies /Universities /Institutes, the molecules developed by Companies in Pre-Registration, Phase III, Phase II, Phase I, IND/CTA Filed, Preclinical and Discovery stages are 2, 2, 9, 4, 2, 7 and 3 respectively. Similarly, the Universities portfolio in Preclinical and Discovery stages comprises 2 and 1 molecules, respectively. Scope: The pipeline guide provides a snapshot of the global therapeutic landscape of Hemophilia B (Hematological Disorders). The pipeline guide reviews pipeline therapeutics for Hemophilia B (Hematological Disorders) by companies and universities/research institutes based on information derived from company and industry-specific sources. The pipeline guide covers pipeline products based on several stages of development ranging from pre-registration till discovery and undisclosed stages. The pipeline guide features descriptive drug profiles for the pipeline products which comprise, product description, descriptive licensing and collaboration details, R&D brief, MoA & other developmental activities. The Hemophilia B market pipeline guide reviews key companies involved in Hemophilia B (Hematological Disorders) therapeutics and enlists all their major and minor projects. The pipeline guide evaluates Hemophilia B (Hematological Disorders) therapeutics based on mechanism of action (MoA), drug target, route of administration (RoA) and molecule type. The pipeline guide encapsulates all the dormant and discontinued pipeline projects and latest news related to pipeline therapeutics for Hemophilia B (Hematological Disorders). Reasons to buy Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies. Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage. Find and recognize significant and varied types of therapeutics under development for Hemophilia B (Hematological Disorders). Classify potential new clients or partners in the target demographic. Develop tactical initiatives by understanding the focus areas of leading companies. Plan mergers and acquisitions meritoriously by identifying key players and it's most promising pipeline therapeutics. Formulate corrective measures for pipeline projects by understanding Hemophilia B (Hematological Disorders) pipeline depth and focus of Indication therapeutics. Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and scope. Adjust the therapeutic portfolio by recognizing discontinued projects and understand from the know-how what drove them from pipeline. Explore more reports on Pharmaceuticals at http://www.reportsnreports.com/market-research/pharmaceuticals/ . ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.


BEIJING, Feb. 15, 2017 /PRNewswire/ -- China Biologic Products, Inc. (NASDAQ: CBPO) ("China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced that the Company plans to release fourth quarter and Fiscal Year 2016 financial results on Thursday, February 23, 2017 after the market closes. The Company's management will hold a conference call at 7:30 a.m. ET on Friday, February 24, 2017, which is 8:30 p.m., Beijing Time on February 24, 2017, to discuss fourth quarter and fiscal year 2016 results. Listeners may access the call by dialing: A telephone replay will be available one hour after the conclusion of the conference call through March 3, 2017. The dial-in details are: A live and archived webcast of the conference call will be available through the Company's investor relations website at http://chinabiologic.investorroom.com/. China Biologic is a leading plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosages of plasma-based products through its majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd., and its wholly-owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals and inoculation centers, as well as distributors, in China. For additional information, please see the Company's website, www.chinabiologic.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-biologic-products-to-report-fourth-quarter-and-fiscal-year-2016-financial-results-300406894.html


News Article | February 23, 2017
Site: en.prnasia.com

-- 4Q16 Total Sales Up 13.6% YoY to $77.6 Million and Net Income Up 19.0% YoY to $19.4 Million in USD terms, orTotal Sales Up 21.7% YoY and Non-GAAP Adjusted Net Income Up 40.7% YoY in RMB terms -- -- FY16 Total Sales Up 15.1% YoY to $341.2 Million and Net Income Up 17.8% YoY to $104.8 Million in USD terms, orTotal Sales Up 22.8% YoY and Non-GAAP Adjusted Net Income Up 35.1% YoY in RMB terms ----Issue Forecast for FY17 --BEIJING, Feb. 24, 2017 /PRNewswire/ -- China Biologic Products, Inc. (NASDAQ: CBPO) ("China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced its financial results for the fourth quarter and fiscal year of 2016. Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, "We are pleased to maintain strong year-over-year growth, despite the negative impact associated with RMB depreciation throughout 2016. We met our upwardly revised revenue and profit forecast from last quarter, supported by modest product price increases, optimization of our product portfolio mix, continued penetration into tier-one markets, greater financial contribution from Guizhou Taibang due to an increase in equity interest and from a stronger-than-expected minority interest contribution from our Xi'an Huitian facility. We achieved a new milestone in 2016 as plasma collection volume surpassed one thousand metric tonnes for the first time through a combination of internal plasma collection and outsourced plasma growth, and we were pleased to broaden our presence in Shandong Province by receiving approvals to build new collection facilities in the province. We also achieved significant progress on the R&D front in 2016 and received CFDA approvals to commence clinical trials of three new products -- Human Coagulation Factor IX, Human Antithrombin III and Human Cytomegalovirus Immunoglobulin (pH4) for Intravenous Injection ("CMV IVIG") products. Our new fractionation facility under development in Shandong province is expected to complete the GMP certificate inspection process and commence operation at the end of 2017. We are working diligently to stock sufficient inventory to ensure adequate product supply prior to the shutdown of the older facility, and our increased inventory position in the fourth quarter is reflective of such efforts. Looking ahead, we expect to achieve healthy growth in 2017 even with factoring the impact of our plant transition in Shandong and continue to focus on key long-term operational growth strategies. We expect to achieve revenue growth of 13%-15% and adjusted net income growth of 18%-20% in RMB terms in 2017 over 2016." concluded Mr. Gao. Total sales in the fourth quarter of 2016 increased by 21.7% in RMB terms, or increased by 13.6% in USD terms to $77.6 million from $68.3 million in the same quarter of 2015. The increase was primarily attributable to the sales volume increase in human albumin products and the sales price increase in human tetanus immunoglobulin products. Cost of sales was $30.8 million in the fourth quarter of 2016, compared to $27.0 million in the same quarter of 2015. As a percentage of total sales, cost of sales was 39.7%, compared to 39.5% in the same quarter of 2015. Gross profit increased by 13.3% to $46.8 million in the fourth quarter of 2016 from $41.3 million in the same quarter of 2015. Gross margin was 60.3% and 60.5% in the fourth quarter of 2016 and 2015, respectively. Total operating expenses in the fourth quarter of 2016 increased by $4.9 million, or 26.2%, to $23.6 million from $18.7 million in the same quarter of 2015, including $1.7 million, $1.6 million, and $1.6 million increases in selling expenses, general and administrative expenses and research and development expenses, respectively. As a percentage of total sales, total operating expenses increased to 30.4% in the fourth quarter of 2016 from 27.4% in the same quarter of 2015. Income from operations for the fourth quarter of 2016 increased by 2.7% to $23.2 million from $22.6 million in the same period of 2015. Operating margin decreased to 29.9% in the fourth quarter of 2016 from 33.1% in the same quarter of 2015. Net income attributable to the Company increased by 19.0% to $19.4 million in the fourth quarter of 2016 from $16.3 million in the same quarter of 2015. Net margin increased to 25.0% from 23.9% in the same quarter of 2015. Fully diluted net income per share increased to $0.69 in the fourth quarter of 2016 from $0.59 in the same quarter of 2015. Non-GAAP adjusted net income attributable to the Company increased by 40.7% in RMB terms, or 31.9% in USD terms, to $26.9 million in the fourth quarter of 2016 from $20.4 million in the same quarter of 2015. Non-GAAP net margin increased to 34.7% in the fourth quarter of 2016 from 29.9% in the same quarter of 2015. Non-GAAP adjusted net income per diluted share increased to $0.95 in the fourth quarter of 2016 from $0.74 in the same quarter of 2015. Total sales in 2016 increased by 22.8% in RMB terms, or 15.1% in USD terms, to $341.2 million from $296.5 million in 2015. The increase in sales was primarily driven by the increases in sales volume of human albumin products, placenta polypeptide and human tetanus immunoglobulin products and the increase in sales price of human tetanus immunoglobulin products, partially offset by the decrease in sales volume of IVIG products. During 2016, human albumin and IVIG products remained the Company's two largest sales contributors, while the revenue contribution from the Company's other products continued to grow. As a percentage of total sales, sales from human albumin products increased to 39.2% in 2016 compared to 37.6% in 2015, while sales from IVIG products decreased to 34.6%, compared to 42.2% in 2015, and sales from hyper-immune products increased to 11.8% of total sales, compared to 7.6% in 2015. The sales volume of human albumin products increased by 26.2% due to enhanced production volume at Shandong Taibang and Guizhou Taibang as a result of increased plasma supply volume, while the sales volume of IVIG products decreased by 3.6% mainly due to the depletion of previously reserved IVIG pastes in 2015 and the allocation of more production to human tetanus immunoglobulin products, whose sales volume increased by 41.9% in 2016, as compared to 2015. The average price for human albumin products, excluding foreign exchange impact, would have increased by 1.5% in RMB terms, or decreased by 4.9% in USD terms, in 2016 compared to 2015. The average price for IVIG products, excluding foreign exchange impact, would have increased by 4.2% in RMB terms, or decreased by 2.3% in USD terms, in 2016 compared to 2015. Revenue from other plasma products including human coagulation factor VIII and human prothrombin complex concentrate increased by 68.0% in 2016, representing 5.0% of total sales, compared to 2015. Revenue from placenta polypeptide products increased by 18.4% in 2016, representing 9.4% of total sales, compared to 2015. Cost of sales was $124.0 million in 2016, compared to $106.5 million in 2015. Cost of sales as a percentage of total sales was 36.4%, as compared to 35.9% in the same period of 2015. The increase in cost of sales as a percentage of total sales was mainly due to the higher concentration of outsourced raw plasma with higher cost, which was partially offset by the increase in the average sales price of certain plasma products and a more profitable product mix. Gross profit increased by 14.3% to $217.2 million in 2016 from $190.0 million in 2015. Gross margin was 63.6% in 2016, compared to 64.1% in 2015. Total operating expenses in 2016 increased 27.5% to $73.2 million from $57.4 million in 2015. As a percentage of total sales, total operating expenses increased to 21.5% for 2016 from 19.4% in 2015, mainly due to the increase in both selling expenses and general and administrative expenses. Selling expenses in 2016 increased by 17.0% to $11.7 million from $10.0 million in 2015. As a percentage of total sales, selling expenses remained stable at 3.4% compared with 2015. The increase in selling expenses was in line with the sales growth in 2016 as compared to 2015. General and administrative expenses in 2016 increased by 31.6% to $54.5 million from $41.4 million in 2015. As a percentage of total sales, general and administrative expenses were 16.0% and 14.0% in 2016 and 2015, respectively. The increase in general and administrative expenses was mainly due to a $12.3 million increase in share-based compensation expenses. Excluding the impact of share-based compensation expenses, non-GAAP general and administrative expenses would have been 8.8% and 9.9% as a percentage of total sales in 2016 and 2015, respectively. Research and development expenses in 2016 were $7.0 million, or 2.1% of total sales, compared to $6.0 million, or 2.0% of total sales, in 2015. During 2016 and 2015, the Company received government grants totaling $0.8 million and $1.2 million, respectively, and recognized them as a reduction of research and development expenses. Excluding this impact, non-GAAP research and development expenses increased by $0.6 million in 2016 from 2015, and these non-GAAP expenses as a percentage of total sales decreased from 2.4% to 2.3%. Income from operations in 2016 increased by 8.6% to $144.0 million from $132.6 million in 2015. Operating margin was 42.1% in 2016, compared to 44.7% in 2015. Income tax expense in 2016 was $25.1 million, as compared to $21.0 million in 2015. The effective income tax rate was 16.3% and 15.5% for 2016 and 2015, respectively. Net income attributable to the Company increased by 17.8% to $104.8 million for 2016 from $89.0 million in 2015. Net margin was 30.7% and 30.0% for 2016 and 2015, respectively. Fully diluted net income per share for 2016 increased to $3.74 from $3.27 for 2015. Non-GAAP adjusted net income attributable to the Company increased by 35.1% in RMB terms, or 26.7% in USD terms, to $126.8 million for 2016 from $100.1 million in the same period of 2015. Non-GAAP net margin increased to 37.2% from 33.8% in 2015. Non-GAAP adjusted net income per diluted share increased to $4.52 for 2016 from $3.68 in 2015. Non-GAAP adjusted net income and diluted earnings per share for 2016 exclude $22.0 million of non-cash employee share-based compensation expenses. As of December 31, 2016, the Company had $183.8 million in cash and cash equivalents, primarily consisting of cash on hand and demand deposits. Net cash provided by operating activities for 2016 was $123.3 million, as compared to $109.4 million for 2015. The increase in net cash provided by operating activities was largely consistent with the improvements in the results of operations in 2016, as compared to the same period in 2015, partially offset by the increases in accounts receivable and inventories. Accounts receivable increased by $11.0 million during 2016, as compared to $7.1 million in 2015. The accounts receivable turnover days for plasma products increased to 41 days during 2016 from 34 days in 2015. To enhance the business relationship with certain key customers, the Company granted longer credit term to certain qualified hospitals during 2016. Inventories increased by $40.1 million in 2016, as compared to $32.1 million in 2015, mainly due to an increase in the inventory of outsourced raw plasma as well as the increase of finished goods in preparation for Shandong facility transition. Net cash used in investing activities for 2016 was $52.5 million, as compared to $89.8 million for 2015. During 2016 and 2015, the Company paid $51.0 million and $52.3 million, respectively, for the acquisition of property, plant and equipment, intangible assets and land use rights for Shandong Taibang and Guizhou Taibang. During 2016 and 2015, the Company granted a loan of $12.3 million and $40.7 million, respectively, to our plasma outsourcing partner. In addition, the Company received a refund of $10.3 million from the local government of Guiyang with respect to deposits of land use rights in 2016. Net cash used in financing activities for 2016 was $22.1 million, as compared to net cash of $51.6 million provided by financing activities for 2015. The net cash used in financing activities in 2016 mainly consisted of payment of $58.1 million to former minority shareholders of Guizhou Taibang in connection with their capital withdrawal from Guizhou Taibang and a dividend of $7.9 million paid to the minority shareholder by Shandong Taibang, partially offset by the maturity of a $37.8 million time deposit as a security for a bank loan which was fully repaid in June 2015 and the proceeds of $3.6 million from stock options exercised. The net cash provided by financing activities for 2015 mainly consisted of net proceeds of $80.6 million from a follow-on offering of the Company's stock in June 2015, proceeds of $63.2 million from the maturity of deposit used as security for bank loans, proceeds of $15.8 million from a short-term bank loan, and proceeds of $7.7 million from stock options exercised, partially offset by the repayment of bank loans totaling $113.5 million and a dividend payment of $3.7 million held in escrow by a trial court in connection with disputes with a minority shareholder of Guizhou Taibang. For the full year of 2017, factoring into the impact of approximately three months of production suspension at our Shandong facility in connection with plant transition, the Company expects total sales to grow 13% to 15% in RMB terms and non-GAAP adjusted net income to grow 18% to 20% in RMB terms over 2016 financial results. This guidance does not factor in any potential foreign currency translation impact. Having previously adopted an exchange rate of approximately RMB6.63 = $1.00 based on weighted average quarterly exchange rates in 2016 in translating 2016 financial results, the Company expects that the total sales and non-GAAP adjusted net income in USD terms in 2017 will be adversely affected by the foreign currency translation impact. This guidance assumes only organic growth, excluding potential acquisitions, and necessarily assumes no significant adverse product price changes during 2017. This forecast reflects the Company's current and preliminary views, which are subject to change. The Company will host a conference call at 7:30 am Eastern Time on Friday, February 24, 2017, which is 8:30 pm Beijing Time on February 24, 2017, to discuss its results for the fourth quarter and fiscal year 2016 and answer questions from investors. Listeners may access the call by dialing: A telephone replay will be available one hour after the conclusion of the conference all through March 4, 2017. The dial-in details are: A live and archived webcast of the conference call will be available through the Company's investor relations website at http://chinabiologic.investorroom.com. China Biologic Products, Inc. (NASDAQ: CBPO) is a leading fully integrated plasma-based biopharmaceutical company in China. The Company's products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products through its majority owned subsidiary, Shandong Taibang Biological Products Co., Ltd., and its wholly owned subsidiary, Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi'an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals, distributors and other healthcare facilities in China. For additional information, please see the Company's website www.chinabiologic.com. This news release contains non-GAAP financial measures that exclude non-cash compensation expenses related to options and restricted shares granted to employees and directors under the Company's 2008 Equity Incentive Plan. To supplement the Company's unaudited condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release. The Company's management believes that these non-GAAP measures provide investors with a better understanding of how the results relate to the Company's performance. A reconciliation of the adjustments to GAAP results appears in the table accompanying this news release. This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies. In addition, as the Company evaluates certain key items of its financial results on a local currency basis (i.e., in RMB) in addition to the reporting currency (i.e., in USD), this news release contains local currency information that eliminates the impact of fluctuations in foreign currency exchange rates. The Company believes that, given its operations primarily based in China, providing local currency information on such key items enhances the understanding of its financial results and evaluation of performance in comparison to prior periods. Changes in local currency percentages are calculated by comparing financial results denominated in RMB from period to period. This news release may contain certain "forward-looking statements" relating to the business of China Biologic Products, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein, are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "intend," "believe," "expect," "are expected to," "will," or similar expressions, and involve known and unknown risks and uncertainties. Among other things, the positive impact on the Company's earnings results driven by the acquisition of full ownership in Guizhou Taibang and the management's quotations and forecast of the Company's financial performance in this news release contain forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, without limitation potential delay or failure to complete the clinical trials for new products, potential delay or failure to complete construction of new collection facilities, potential inability to pass government inspection and certification process for new collection facilities, potential inability to achieve the designed collection capacities at the new collection facilities, potential inability to achieve the expected operating and financial performance, potential inability to find alternative sources of plasma, potential inability to increase production at permitted sites, potential inability to mitigate the financial consequences of a temporarily reduced raw plasma supply through cost cutting or other efficiencies, and potential additional regulatory restrictions on its operations and those additional risks and uncertainties discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-biologic-reports-financial-results-for-the-fourth-quarter-and-fiscal-year-2016-300412394.html


News Article | February 23, 2017
Site: www.prnewswire.com

-- 4Q16 Total Sales Up 13.6% YoY to $77.6 Million and Net Income Up 19.0% YoY to $19.4 Million in USD terms, or Total Sales Up 21.7% YoY and Non-GAAP Adjusted Net Income Up 40.7% YoY in RMB terms -- -- FY16 Total Sales Up 15.1% YoY to $341.2 Million and Net Income Up 17.8% YoY to...

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