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Pharmaceutical Processing News
News Release from: Amersin Life Sciences
Edited by the Processingtalk Editorial
Team on 08 June 2004
Hubei Pharmaceutical Group expands by
acquisition
Hubei Pharmaceutical Group has entered into a formal agreement to acquire a 60% controlling interest in HBBenda, a JV for production of high-tech pharmaceutical products in injectable and tablet forms
Hubei Pharmaceutical Group has entered into a formal agreement to acquire a 60% controlling interest in Hubei Tongji Benda Ebei Pharmaceutical Co Ltd, (HBBenda),located in Guangshui City, Hubei Province, China HBBenda is a new Sino-American Joint Venture Corporation into which the minority partners have vended their operating dosage division originally established in 1975
This article was originally published on Processingtalk on 9 Jul 2003 at 8.00am (UK)
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In addition to a base of 79 high-tech pharmaceutical products in injectable and tablet forms, the new joint venture expects, in its first year of operation, to complete patenting and production licensing of several biotech pharmaceuticals to be used in the treatment of Cancer and Diabetes.
Addition details will be made available following completion of the transaction which is expected to take place on or before June 15th.
Hubei Pharmaceutical Group is engaged in the acquisition and consolidation of pharmaceutical development, production and distribution facilities in China.
Its first joint venture, Hubei Pharmaceutical Company, is licensed to produce a total of 120 pharmaceutical products approximately one third of which are currently commercialised.
The addition of HBBenda marks a strategic move into the Biotech field, expands the distribution network into regions not previously serviced and is expected to add significantly to revenue and profitability in the first year of operation.
The company expects to announce other significant milestones in the near future.
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