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.
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.