Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

£

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 1.01     ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On October 16, 2008, China Biologic Products, Inc. (the "Company"), reported the entry on October 10, 2008, of the Company's indirect majority-owned subsidiary, Shandong Taibang Biological Products Co., Ltd. ("Taibang"), into an Equity Transfer Agreement (the "Equity Transfer Agreement"), pursuant to which Taibang agreed to acquire 35% of the equity interest in Xi'an Huitian Blood Products Co., Ltd. ("Huitian"), a PRC limited company, from Mr. Fan Qingchun (the "Transferor"), a PRC citizen, for an aggregate purchase price ("Purchase Price") of RMB 44,000,000 (approximately, $6,443,393) (the "Equity Transfer"). The Company has already paid RMB 22,000,000 (approximately, $3,221,697) of the Purchase Price and was obligated to pay the balance of the Purchase Price on or before April 8, 2009, a date which was 5 business days following the 6 months anniversary of October 1, 2008, subject to an annual interest rate on the accrued and unpaid balance of 8%, commencing as of October 1, 2008.

On April 18, 2009, Taibang and the Transferor entered into a supplemental agreement (the "Supplemental Agreement") that amended the Equity Transfer Agreement in the following material respects:

• The date on which the balance of the Purchase Price is due was extended from 5 business days following the 6 months anniversary of October 1, 2008, to business 5 days following June 30, 2009;
   

• The interest rate on the accrued and unpaid balance of the Purchase Price was changed from 8% as of October 1, 2008, to 8% from October 1, 2008 to March 31, 2009, and 5.5% from April 1 2009 to June 30, 2009; and
   

• The Transferor is obligated to consult with its local Tax Bureau and finalize, before July 7, 2009, the calculation of the capital gain tax due on the Equity Transfer, and provide to Taibang a copy of any writing issued by the Tax Bureau regarding any withholding liability of Taibang in connection with the Equity Transfer. Taibang agreed that if it is deemed responsible for withholding the capital gain tax on behalf of the Transferor, then Taibang will deduct such amount from the balance of the Purchase Price payable, and shall submit such amount directly to the Tax Bureau.

The foregoing description does not purport to be a complete statement of the parties' rights and obligations under the Equity Transfer Agreement, as amended, or the transactions contemplated thereby or a complete explanation of the material terms thereof. The foregoing description of the Supplemental Agreement is qualified in its entirety by reference to the Supplemental Agreement attached hereto as Exhibit 10.5 and incorporated herein by reference. For information regarding the Equity Transfer Agreement, see Exhibits 10.1 through 10.4 of the current report on Form 8-K filed by the Company on October 16, 2008 (Commission File No. 000-52807) incorporated by reference herein.

(d)         Exhibits

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* Filed herewith

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.