TPG Places a Growth Bet On China's Drug Industry (China)
This article was originally published in PharmAsia News
TPG, the private-equity firm formerly known as Texas Pacific Group, is investing in Shanghai ChemPartner, one of China's largest pharmaceutical-research outsourcing companies. TPG also will invest in ChemPartner's sister company, ChemExplorer, because the minority stake TPG is taking will actually be in ShangPharma, the recently formed holding company of both. ChemExplorer does most of its work for Eli Lilly & Co., while ChemPartner is an established outsourcer to many global drug firms. Multinational pharmaceutical firms are increasingly using Chinese scientists, and health care is drawing greater interest from venture capitalists and early-stage financiers, who previously avoided China's drug industry. (Click here for more - May Require Paid Subscription
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