M&As this week: CSL, Sunflower Pharmaceutical Group, Immunotech Laboratories

15th June 2017 (Last Updated June 15th, 2017 18:30)

Australian biotherapeutics company CSL has reached an agreement with Chinese healthcare company Humanwell Healthcare Group to acquire an 80% equity stake in the latter’s subsidiary, Wuhan Zhong Yuan Rui De Biological Products (Ruide).

Australian biotherapeutics company CSL has reached an agreement with Chinese healthcare company Humanwell Healthcare Group to acquire an 80% equity stake in the latter’s subsidiary, Wuhan Zhong Yuan Rui De Biological Products (Ruide).

The acquisition is to be funded through CSL’s existing debt facilities and also includes milestone-based performance and payment mechanism to increase the stake further.

The purchase consideration for the acquisition is $352m.

"Chinese pharmaceutical company Sunflower Pharmaceutical Group has acquired 10% stake in a pharmaceutical unit based in Xiangyang."

Chinese pharmaceutical company Sunflower Pharmaceutical Group has acquired 10% stake in a pharmaceutical unit based in Xiangyang.

The purchase consideration for the acquisition involved approximately three million shares of the target company and totalled CNY40.33m ($5.94m).

Immunotech Laboratories, a drug development company based in the US, has been acquired by US-based oil and gas company, Eco-Petroleum Solutions.

The stock transaction will result in an opportunity to bring a new immunotherapy to Europe and innovate HIV / AIDS treatments.