Chongqing Sansheng has announced that it will acquire a 100% interest in Liaoyuan City Baikang Pharmaceutical for a consideration of $40.13m.
The target company is a drug manufacturer, whereas Chongqing Sansheng develops building materials and chemicals.
Recipharm has announced plans to invest its available funds, credit facilities and proceeds from shares issues in a rights offering to acquire certain businesses of a biopharmaceutical contract services company Kemwell Biopharma Pvt Ltd.
The $205.86m acquisition will be funded entirely by Recipharm and will include the target company's contract development and manufacturing assets in the US, Sweden, India.
The acquisition will enable Recipharm expand its technology and capabilities and international market by developing a strong customer relationship.
Image: Recipharma has annoounced to acquire Kemwell Bipoharma; Photo: courtesy of Kemwell Biopharma.