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The Week in Review: Fosun to Pay $219 Million for 70% of Jinzhou Ahon

publication date: Sep 10, 2011
 | 
author/source: Richard Daverman, PhD
Deals and Transactions

Shanghai Fosun Pharmaceutical (Group) (SHE: 600196) will pay up to $219 million to acquire a 70% stake in Jinzhou Ahon Pharmaceutical Co. (see story). Shanghai Fosun said the acquisition will make its drug portfolio more competitive, especially in Ahon’s core strengths of the cardiovascular and central nervous system sectors.

Fosun Pharma also announced it will form a generic drug JV with Lonza Group (VTX: LONN) of Switzerland, backed by $15.6 million in capital (see story). The JV will take advantage of the strengths of each parent: Lonza in APIs and intermediates; Fosun in finishing and China distribution. The JV will be owned equally by the two partners.

Big Pharma in China

Pfizer (NYSE: PFE) will form an animal health JV in China with Jilin Guoyuan Animal Health Company, Ltd., an animal vaccine startup that has a recently completed manufacturing facility in Huinan (see story). The JV, called Jilin Pfizer Guoyuan Animal Health Co., initial focus will be a swine vaccine. Longer-term, the JV will develop and make new animal vaccines. Financial terms of the relationship were not disclosed.

GlaxoSmithKline (NYSE: GSK) signed up three companies to distribute its portfolio of vaccines in China (see story). Each of the three companies will be responsible for a specific geographical region of the PRC. GSK is committed to offering a complete portfolio of vaccines in China, but it has recently backed away from using China partners to develop and manufacture vaccines, preferring to depend on its own expertise.

Company News

AllCells, LLC, a San Francisco-area lab that provides biotech researchers with primary cell types, has relocated and expanded its Shanghai facilities (see story). AllCells-Shanghai is now operational in Ju Ke Park (聚科生物园区). The purpose of the new facility will be to serve global big pharma clients that have established R&D centers in China, according to Jack Zhai, Head of Marketing for AllCells, in an exclusive interview with ChinaBio® Today.

Government and Regulatory

A US judge has ruled that four China manufacturers of Vitamin C will have to stand trial for price fixing (see story). The four companies are not contesting the allegations in the case, but they argued the PRC government forced them to restrict supply and thereby cause a rise in price – an entirely allowable defense according to US law. The judge, however, did not agree.

Disclosure: ChinaBio® Today has a research relationship with Pfizer.

 

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