Jiangsu Hengrui Medicine To Enter OTC Business
This article was originally published in PharmAsia News
Jiangsu Hengrui Medicine has signed separate agreements with Lianyungang Tianyu Investment and Lianyungang Hengchuang Pharmaceutical Science & Technology to acquire their respective 45 percent stakes in Lianyungang Huachen Pharmaceutical. Meanwhile, Hengrui's subsidiary Jiangsu Hengrui Medicine Distribution will purchase Hengchuang Pharmaceutical Science & Technology's remaining 10 percent share in Lianyungang Huachen Pharmaceutical with 22.96 million yuan ($3.3 million), effectively making it Hengrui's wholly-owned subsidiary. Hengrui's own OTC antitumor drugs are sold through hospitals and the acquisition will give it direct OTC sales channels. Hengrui will focus on developing OTC drugs as well as its patented and surgery drugs for its core strategy. Eventually, Huachen will only distribute Hengrui-produced OTC drugs nationwide after restructuring. (Click here for more - Chinese Language)
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