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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
COMPANY NEWS » TOP China Pharmas  «  1  2  3  4  5  » 
found files: 128
China Aoxing Pharmaceutical Company, Inc. »13/03/2008 [Company watch]
China Aoxing Pharmaceutical to Acquire Shijiangzhuang Lerentang Pharmaceutical Co.,

China Aoxing Pharmaceutical Company Signed Definitive Acquisition Agreement to Acquire Shijiazhuang Lerentang Pharmaceutical Company, Ltd. -Acquisition to Expand Company's Market Position and Portfolio in Pain Management- China Aoxing Pharmaceutical Company, Inc. which has the largest manufacturing facility and product pipeline for highly regulated narcotic medicines and pain medication in China, today announced that Hebei Aoxing Pharmaceutical Group Company, the subsidiary of China Aoxing Pharmaceutical Company, signed a definitive acquisition agreement to acquire Shijiazhuang Lerentang Pharmaceutical Company Ltd. ("LRT"). LRT is a pharmaceutical company organized under the laws of China specializing in the manufacturing and distribution of modernized Chinese traditional medicines, with a strong portfolio of pain management products. . developed a rich line of pain management drugs in pills, tablets, capsules, oral solutions and other formulations. LRT's best selling product is the Zhong Tong An Capsules, an effective pain medicine developed solely by LRT to relieve dental pain, sore throats and oral ulcers. Zhong Tong An Capsules accounted for approximately 50% of LRT's total revenue in 2007. LRT currently has 52 products listed in the first and second classes of the National Medical Insurance Program, and 101 products entered in the national OTC medicine book. In 2004, LRT passed GMP production certificates for all of its production lines. "We are excited to gain significant progress in the LRT transaction and believe this acquisition will further support our position as a leading, diversified pain management products company," commented Zhenjiang Yue, Chairman and CEO of China Aoxing. "With LRT's integration, we will execute a key part of our business strategy by acquiring an established brand, profitable business, and synergistic product portfolio with significant commercialization value. LRT has a number of high value pain management products,...   more»


3SBIO (Shenyang Sunshine) »19/03/2008
3SBio Inc. Announces Promotion of David Chen as Chief Operating Officer

3SBio Inc. (''3SBio'' or the ''Company''), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced the appointment of Dr. David Chen to the newly created role of Executive Vice President and Chief Operating Officer, effective immediately. Dr. Chen most recently held the position of Vice President of Business Development at 3SBio....   more»


Simcere Pharmaceutical Group »20/03/2008 [Company watch]
Simcere Pharmaceutical Group Announces the Appointment of New Vice President of Marketing and Two Senior Sales appointments

Simcere Pharmaceutical Group (NYSE: SCR), a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, today announces the appointment of Mr. Mark Chen, Pei-Chi as Vice President of Marketing and the promotion of Baoxing Zha and Dasheng Sun as the Vice Presidents of Hospital Sales and Retail Sales respectively....   more»


3SBIO (Shenyang Sunshine) »23/03/2008 [Company watch]
3S Bio announce new appointment

3SBio Inc. (''3SBio'' or the ''Company''), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced the appointment of Dr. David Chen to the newly created role of Executive Vice President and Chief Operating Officer, effective immediately. Dr. Chen most recently held the position of Vice President of Business Development at 3SBio. Since joining 3SBio in June 2007, Dr. Chen has been responsible for developing long-range growth strategies and pursuing strategic business opportunities and external alliances with biotechnology and pharmaceutical companies in major markets worldwide. In addition to his existing responsibilities, Dr. Chen will assume oversight of commercial operations including commercial strategy, medical and regulatory, government affairs, and export. He will be based in Beijing, China....   more»


China Sky One Medical,Inc. »02/04/2008 [Company watch]
China Sky One Medical, Inc. announced its 2007 revenues

China Sky One Medical, Inc. announced its 2007 revenues climbed 148% to $49.3 million. The company’s net income came in at $15.3 million, which equals $1.15 per share fully diluted and a profit margin of 31%. The company makes and markets traditional Chinese Medicines, most of which are for external use. It also produces diagnostic products....   more»


Simcere Pharmaceutical Group »22/04/2008 [Company watch]
Simcere acquires 70% in Wuhu Zhong Ren Pharma

Simcere Pharmaceutical Group, a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, has signed a definitive agreement to acquire a 70% equity interest in Wuhu Zhong Ren Pharmaceutical for a total cash consideration of RMB 64.82 million ($9.26 million). This transaction is consistent with Simcere's strategy to focus on first-to-market and innovative new drugs and expand its anti-cancer product portfolio. Zhong Ren Pharmaceutical is a Chinese drug manufacturer specializing in the production of sustained release anti-tumor implants. Its key product SinoFuan (fluorouracil implant), is proven to effectively inhibit the growth of tumors, and is the only sustained release anti-tumor implant approved by the State Food and Drug Administration (SFDA). SinoFuan is commonly used to treat cancers of the digestive tract and is a favored choice for use during surgery. No similar product exists on the Chinese market today. The distribution of SinoFuan through Simcere's established marketing channels will enhance Simcere's offerings in the anti-cancer drug market, benefit cancer patients across China and create greater value for Simcere shareholders....   more»


China Aoxing Pharmaceutical Company, Inc. »18/04/2008 [Company watch]
American Oriental Bioengineering Inc. in JV with China Aoxing Pharmaceutical Company

American Oriental Bioengineering Inc. (NYSE: AOB) took a 38% position in China Aoxing Pharmaceutical Company Inc. (OTCBB: CAXG.OB) as part of a deal under which the two companies will jointly develop and market narcotics and pain relievers in China. American Oriental will pay $18 million for 30 million shares of China Aoxing, a price of 60 cents per share. China Aoxing last traded at $1.22 per share, and it moved up 22 cents to $1.54 following the announcement. China Aoxing concentrates on highly regulated narcotic pain drugs. Only a few China biopharmas have permission to develop narcotic drugs. In March, China Aoxing agreed to acquire Shijiazhuang Lerentang Pharmaceutical Company, another company with pain drugs in its portfolio, for 8 million shares of stock and $10.8 million in cash, even though China Aoxing listed only $1 million in cash available. The investment by American Oriental allowed China Aoxing to close its purchase of Shijiazhuang Lerentang. American Oriental had $166 million in cash at the end of 2007, and it has been very intent upon increasing its business by buying companies, though usually it has acquired 100% of privately held biopharmas. In 2007, it made at least four such transactions. The company reported its 2007 profits were $43.3 million on revenues of $160.5 million. The companies noted that the narcotic and pain market in China is currently worth only $300 million annually, implying patients are vastly underserved. China Aoxing and American Oriental Bioengineering will collaborate on increasing the sales of China Aoxing's current pain drugs, particularly Naloxone, and they will also work to further development of China Aoxing's narcotic drug pipeline, which includes Oxycodone and Tilidine....   more»


Lotus Pharmaceuticals »22/04/2008 [Company watch]
Lotus Actively Increasing Its Share of China’s Pharma Market

In The Odyssey, the lotus-eaters were a tribe of people who were addicted to the lotus plant, a plant that left them in an opium-like state of blissful apathy. It does not seem like an appropriate name for Lotus Pharmaceuticals (LTUS.OB), because the company is anything but apathetic. Instead, it seems intent upon increasing its share of China’s pharmaceutical market. Lotus Pharmaceuticals reported it made a profit of $11.2 million on revenues of $56.9 million in 2007. For the year, profits almost tripled, while revenues increased 57%. Without one-time items, net income would have been $8.5 million. Even at the lower figure, net earnings were 19 cents per fully diluted share, a jump of 34% over 2006. On December 31, 2007, Lotus had $4.6 million in cash and $24.7 million in working capital. Already in 2008, Lotus has floated a $4.6 million offering of Series A Convertible Redeemable Preferred Stock. The company used $2.6 million to repay its 14% secured convertible notes, and the rest will be added to working capital....   more»


China Biopharmaceuticals Holdings »02/05/2008 [Company watch]
China Pharma Holdings, Inc Announces First Quarter 2008 Financial Results

Revenues for the first quarter of 2008 increased approximately 62% to $11.7 million, from $7.2 million in the first quarter of 2007. The significant increase in revenues was due to expanded production of the China Pharma's product portfolio supported by enhanced marketing efforts. The Company believes that this extraordinary growth should provide investors with confidence in China Pharma's ability to execute on their strategic marketing plan going forward. Therefore, the Company is reiterating that its 2008 full- year revenue growth is expected to exceed 40%. Gross profit grew 76% to $5.8 million from $3.3 million in the first quarter of 2007. Gross margins were 49.6% compared to 45.6% recorded during the first quarter of 2008 and 2007 respectively. The growth of gross profit and the improved margins were primarily due to the substantial increase in revenues and the decrease in overall production expenses in the first quarter of 2008. Operating expenses for the three months ended March 31, 2008 decreased 20.7% to $1.2 million compared to the same period in 2007. Selling expenses for the period increased to approximately $0.34 million from 0.15 million in the first quarter of 2007, which is due to the Company's investment in overall marketing. General and administrative expenses were $0.82 million in the three months ended March 31, 2008, a decrease of $0.49 million, or 37.5% compared to the first quarter of 2007, with the improvement emanating from the collection of bad debt reserves written-off in 2007, which reinforces China Pharma's ability to collect customer receivables Operating income for the first quarter of 2008 totalled $4.7 million, a 152.2% increase, compared to $1.8 million for the same period in 2007. Net income was $4.2 million, representing an increase of 76.5% from $2.4 million reported in the same year ago period. Fully diluted earnings per share were $0.11, a 57.1% increase from $0.07 in the first quarter of 2007. "We are pleased to report another quarter of strong revenue and net income growth. The success of our increased marketing efforts and diversified portfolio focusing on therapeutics targeting high mortality and high incidence diseases enabled us to achieve a 62% increase in revenues for the first quarter of 2008," commented Ms. Zhilin Li, President and CEO of China Pharma, "Our ability to prudently manage expenses while collecting on 2007 bad debt reserves contributed to the decrease in operating expenses and resulted in a higher operating margin. We anticipate this trend will continue during 2008 as we aim to maintain or improve margins and profitability going forward."...   more»


China Biopharmaceuticals Holdings »13/05/2008
China Biotics Completes Foundation for Its New Plant

China-Biotics, Inc. a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced it completed the foundation work for its new plant at Qing Pu, Shanghai. "The new plant which has a 150 MT capacity is the cornerstone of our growth strategy. We have put over 1,000 pilings in the ground over the last couple of months. We are pleased that the piling work is complete and we have laid a solid foundation on which to build this plant," said Mr. Jinan Song, Chairman and Chief Executive Officer of China-Biotics. "We have started building the factory infrastructure which we hope to complete by the end of third quarter this year. We have already placed orders for all major equipment that we need." "The new plant has a steel structure and the equipment will also be largely made of steel. With rising Renminbi and steel prices, the construction costs are expected to escalate. Despite this, we believe that our new plant will remain one of the cheapest of its kind," said Mr. Song. "When completed during the 2009 fiscal year, it will be the only large-scale probiotics plant in China that supplies the domestic bulk additive market." About China-Biotics, Inc. Headquartered in Shanghai, China-Biotics, Inc. was founded in 1999 and is one of China's largest suppliers of probiotics. Probiotics are beneficial live bacteria used as dietary supplements and food additives to improve intestinal health and digestion. The Company's product portfolio contains live microbials made with proprietary technology. Currently, these products are sold over-the-counter under the "Shining" brand through large distributors to more than 1,000 pharmacies and 100 supermarkets in Shanghai, Jiangsu and Zhejiang. Shining is one of the most recognized brands in Shanghai. China-Biotics plans to expand its retail sales to other major cities in China and is launching 300 Shining brand logistic centers in these cities. The Company's flagship product, "Shining Essence", has been a profit driver since its launch in April 2001. There is a significant demand for probiotics for use in the bulk additive market, which is currently met by imports. China-Biotics is building a new plant which will increase its production capacity manifolds to capture this market....   more»


Simcere Pharmaceutical Group »18/05/2008 [Company watch]
Simcere Pharmaceutical Group Announces SFDA Approval Of First-To-Market Generic Biapenem Injection A

Simcere Pharmaceutical Group, a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, recently announced that it has received approval from the Chinese State Food and Drug Administration (SFDA) to manufacture and market a first-to-market generic Biapenem injection under the brand name Anxin. Anxin is the first Biapenem injection approved for sale in China, and will be used for the treatment of serious infections. Biapenem is a member of the fast-growing carbenicillin family, like Tienam from Merck & Co. Inc. and Mepem from Sumitomo Pharmaceuticals Co. Ltd., with a potential market in China of RMB1.6 billion. This family of drug has seen an approximate 30% year over year growth rate in China over the last three years. As is the case with first-to- market branded generics in China, Anxin will enjoy an exclusive four-year market monitoring period, during which the SFDA will not accept further requests for approval of pharmaceuticals with the same chemical structure, dosage form and indication, that have not yet entered into clinical trial. Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere, commented, "The approval of Anxin, a Simcere developed Biapenem injection, strengthens the company's antibiotic product portfolio in line with our strategy to focus on first-to-market generic and innovative drugs. More importantly, it provides a new and effective treatment for patients with serious infections who have experienced resistance to other antibiotics."...   more»


3SBIO (Shenyang Sunshine) »19/05/2008 [Company watch]
3SBIO reports Higher first qtr revenues

In the first quarter of 2008, 3SBio saw its sales jump 57% to 55.5 million RMB ($7.9 million). Gross profit climbed 56% to 50.6 million RMB ($7.2 million). However, net income did not keep pace, rising a much smaller 22% to 14.2 million RMB ($2 million). Apparently, 3SBio spent a lot of money to create the increase in revenues, because the cause for the shortfall in net income was higher spending in the sales, marketing and distribution category. This item climbed 65% to 25.6 million RMB (US$3.7 million), a figure that represents 46% of the company’s revenues. In the battle between promoting revenues or profits, 3SBio came down heavily on the side of revenues, and net income suffered as a result. 3SBio has two products that produce the preponderance of its sales: • injectable recombinant human erythropoietin [EPO] products, collectively branded as EPIAO, produced 35.5 million RMB ($5.1 million) in revenue, a rise of 42%; and • protein-based therapeutic recombinant human thrombopoietin [TPO] products, marketed as TPIAO, produced 15.4 million RMB ($2.2 million) in sales, an increase of 104%. Together, these two product lines sold $7.3 million of the total $7.9 million that 3SBio reported on its top line. Net income per ADS was recorded as 13 cents for Q1. Each ADS represents seven ordinary shares....   more»


China Sky One Medical,Inc. »23/05/2008 [Company watch]
China Sky One Receives Approval for Two New Drugs

China Sky One Medical, Inc. (CSKI.OB) was granted SFDA approval for two new drugs: Oxymetazoline Hydrochloride Nasal Drops and Taurine Eye Drops. Oxymetazoline Hydrochloride Nasal Drops are indicated for the treatment of acute and chronic rhinitis, sinusitis and allergic rhinitis. Taurine Eye Drops are approved for the treatment of acute and chronic conjunctivitis. Both rhinitis and conjunctivitis are common in China, especially in colder regions. With the new products, China Sky One now has a portfolio of 98 drugs overall and 49 products that are administered externally. In addition, the company will have submitted a total of 37 additional new drugs to the SFDA by the end of 2008. Because of its distribution network, which China Sky One says is more extensive than the companies that make competitors to the new products, China Sky One expects its new products to quickly capture at least 10% of their respective markets. The company did not make specific revenue predictions. Recently, China Sky One reported first quarter revenues 140% higher than the year-earlier quarter....   more»


Lotus Pharmaceuticals »27/05/2008
Lotus revenue growth but not all sections

Lotus Pharmaceutical [LTUS.OB] said its Q1 revenues rose 41% to $11.7 million, and net income climbed 19% to $1 million (see story). Its third-party manufacturing business experienced a 50% downturn from year-earlier levels, but its other operations – pharmaceutical production and wholesale distribution – did well. To continue the growth, Lotus paid $7 million to buy a new asthma medicine, Laevo-Bambutero, which must still be approved by the SFDA. Lotus expects a 2012 launch for the drug, if all goes well....   more»


China Biopharmaceuticals Holdings »30/05/2008 [Company watch]
China Pharma Holdings, Inc. Enters Into Private Placement Agreements to Raise $10 Million

China Pharma Holdings, Inc. ("China Pharma" or "Company") (OTC Bulletin Board: CPHI) which develops, manufactures, and markets generic and branded bio-pharmaceutical products in China, today announced that it has entered into a Securities Purchase Agreement and a Registration Rights Agreement with institutional and accredited investors ("Investors") pursuant to which China Pharma shall issue and sell five million shares of the Company's common stock at a purchase price of $2.00 per share. The Investors shall also receive three-year warrants to purchase an aggregate of 1.25 million shares of the Company's common stock at an exercise price of $2.80 per share, subject to adjustment. The net proceeds of the offering are expected to be applied to development of new drugs in pipeline, expansion product line and general working capital. Ms. Li, President and CEO of China Pharma said, "We are very pleased to conduct this new financing with high quality institutional investors including several current shareholders. This round of financing will provide us with additional capital to help expedite the development of our new drugs and fund our future growth including the launch of several new drugs and further expansion of our distribution network. We are also quite pleased with the caliber of high quality institutional investors that participated in our private placement. The proceeds raised from our investors reflect continued confidence in our ability to carry out our strategic vision and maximize our shareholders value."...   more»


3SBIO (Shenyang Sunshine) »28/05/2008 [Company watch]
3SBio to Commercialize Iron Deficiency Agent in China

3SBio, Inc. has signed a development-commercialization deal with AMAG Pharmaceuticals, Inc. (NSDQ: AMAG) to obtain SFDA approval and then market ferumoxytol, an intravenous iron replacement therapeutic agent being developed to treat iron deficiency anemia in chronic kidney disease [CKD] patients. 3SBio’s flagship drugs, EPIAO, an injectable recombinant human erythropoietin, and TPIAO, a protein-based therapeutic recombinant human thrombopoietin, are sold largely to dialysis patients with chronic kidney disease. 3SBio paid $1 million upfront and will make milestone payments as ferumoxytol achieves regulatory goals for chronic kidney disease and other indications. AMAG will also receive tiered, double-digit royalties, up to 25%, based on sales of ferumoxytol. 3SBio will assume complete financial responsibility for the approval process of ferumoxytol in China, which will be administered by a joint 3SBio-AMAG steering committee. Under the agreement, 3SBio will have rights to the drug for 13 years. If minimum levels of sales are met, the agreement will be automatically renewed. AMAG will manufacture ferumoxytol and sell it to 3SBio at a set supply price. Ferumoxytol has completed its clinical trials in the US, and AMAG submitted its request for FDA approval of the drug in December 2007. According to AMAG, there are 12 million Stage 3 and 4 CKD patients and over 91,000 patients on dialysis in China. AMAG used a proprietary nanoparticle technology to develop the drug. 3SBio is based in Shenyang and AMAG is headquartered in Cambridge, MA....   more»


China Sky One Medical,Inc. »04/06/2008 [Company watch]
China Sky One Medical, Inc. Receives SFDA Approval for Five Patches

China Sky One Medical, Inc. (Amex: CSY) ("China Sky One Medical", "CSY"), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, today announced today that five of its products have received production permit approvals from the SFDA. Over a year ago, China Sky One Medical began to develop products with large potential global market demand in an effort to expand the Company’s export business. The Company established a R&D team dedicated to the development of these products in February 2006. China Sky One Medical has successfully completed pharmacokinetics studies, clinical studies and the manufacturing process for the following patches: Anti-smoking patch -- breaks down nicotine and other harmful chemical compounds related to cigarette smoking and reduces dependence on cigarettes; Scar patch -- speeds up the healing of the wounds due to trauma and surgeries and reduces the likelihood of developing permanent scars; Migraine patch -- provides quick pain relief for migraine sufferers while alleviating dizziness and nausea; Eye patch -- relaxes the muscles in the retina, which helps to reduce the likelihood of developing myopia; Coronary heart disease patch -- increases blood circulation in coronary arteries, which reduces the incidences of coronary heart disease and myocardial infarction. These patches were developed after extensive research into the market potential by China Sky One Medical’s business development team. The Company has received purchase orders for some products, such as the anti-smoking patch, prior to receipt of the production permit. "Since most of these products utilize extracts from the natural herbs, there are side effects for human consumption. This is especially true for anti-smoking patches. Most of the anti-smoking patches on the market contain nicotine and other chemical compounds," said Mr. Yanqin Liu, Chairman and Chief Executive Officer of China Sky One Medical, "The anti-smoking patches developed by China Sky One are extracts from natural herbs, which have no side effects." This series of patches plays a major role in the Company’s strategy in entering into the global market. The Company currently has ten other products in development targeting the global market....   more»


3SBIO (Shenyang Sunshine) »04/06/2008 [Company watch]
AMAG Pharma, 3SBio Partner to Develop Ferumoxytol Market in China

U.S. drug company AMAG Pharmaceuticals Inc. (AMAG) announced Tuesday that it has signed an agreement with 3SBio Inc. (SSRX) to develop the market in China for ferumoxytol, an iron deficiency anemia drug produced by AMAG. The product, ferumoxytol, is an intravenous iron replacement drug for treating iron deficiency anemia among chronic kidney disease [CKD] patients. It will enter the Chinese pharmaceutical market through the cooperation between AMAG Pharma and 3SBio. AMAG Pharma chose 3SBio as its partner to develop the product in China due to 3SBio's leading position in the nephrology therapeutic market, its strong sales network across the country and its rich marketing experience, according to the announcement. According to the terms of the agreement, 3SBio is AMAG Pharma's exclusive partner in China for developing ferumoxytol in the country, including promoting the use of the product in clinical trials, getting approval from the State Food and Drug Administration, as well as expanding the product's market share. AMAG Pharma and 3SBio will set up a joint steering committee, made up by an equal number of representatives of each company, to guide the development of the product in China. The agreement will last for 13 years and will be renewed depending on sales performance. In addition, AMAG Pharma will receive an advance payment of $1 million from 3SBio. 3SBio listed on the Nasdaq in February last year. It is mainly engaged in the manufacture, research and development and marketing of biopharmaceutical products in China...   more»


China Sky One Medical,Inc. »04/06/2008 [Company watch]
China Sky One Medical receives five SFDA approvals

China Sky One Medical, a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products, said five of its products have received production permit approvals from the Chinese SFDA. China Sky One Medical has successfully completed pharmacokinetics studies, clinical studies and the manufacturing process for the following patches: Anti-smoking patch – breaks down nicotine and other harmful chemical compounds related to cigarette smoking and reduces dependence on cigarettes; Scar patch – speeds up the healing of the wounds due to trauma and surgeries and reduces the likelihood of developing permanent scars; Migraine patch – provides quick pain relief for migraine sufferers while alleviating dizziness and nausea; Eye patch – relaxes the muscles in the retina, which helps to reduce the likelihood of developing myopia; Coronary heart disease patch – increases blood circulation in coronary arteries, which reduces the incidences of coronary heart disease and myocardial infarction. The company has received purchase orders for some products, such as the anti-smoking patch, prior to receipt of the production permit....   more»


China Sky One Medical,Inc. »13/06/2008 [Company watch]
China Sky One to acquire Peng Lai Jin Chuang pharma

China Sky One Medical, a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic kit products in China, has signed an agreement to acquire Peng Lai Jin Chuang Company, a newly established pharmaceutical firm that has obtained GMP approval from China’s State Food and Drug Administration (SFDA). Under the terms of the agreement, China Sky One Medical’s wholly-owned subsidiary, Harbin Tian Di Ren Medical Science and Technology, will acquire 100 percent of Jin Chuang's assets for a cash payment of RMB 17 million ($2.5 million) and RMB 32 million ($4.6 million) of China Sky One Medical's common shares. In exchange, China Sky One Medical will obtain Jin Chuang's RMB 70 million ($10.1 million) in assets, which includes franchise, production and operating rights for a portfolio of 20 approved drugs, including drugs for the treatment of colds, cardiovascular disease, and depression. The acquisition is expected to close on or before June 30, 2008. "We expect the synergies that we will realize from this strategic acquisition to make a significant contribution to our profitability in the coming years," said Mr Yan-qing Liu, Chairman, CEO and President of China Sky One Medical. "Specifically, Jin Chuang allows us to broaden our product lines and improve our manufacturing capabilities. We have been focused primarily on external use products; however following this acquisition a new pipeline of internal use drugs can enhance our product line. Since Jin Chuang is a newly established company and has not yet started production, we expect it will begin contributing to our profitability at the end of this year,” added Mr Liu....   more»

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