Bayer HealthCare’s Qidong Company Receives New Drug Production License
This article was originally published in PharmAsia News
Bayer HealthCare has almost finalized its acquisition of Topsun Science and Technology's Black and White cold medicine, and a drug production license has been granted to the new Qidong company. It will receive an official business license after obtaining the relevant drug approval numbers. The two parties will complete transfer procedures of GMP authentication and drug registration certification at the end of June. Even after selling off its popular OTC medicine, Topsun's losses still total some 880 million yuan ($124 million), but its liquidity status will be improved. Officials say the firm will focus on its stalwart traditional Chinese medicine core, modern TCM, as well as narcotic and psychotropic drugs in the future. (Click here for more - Chinese Language)
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