Hisun Pharmaceutical To Acquire Hisun Group’s Assets
This article was originally published in PharmAsia News
Zhejiang Hisun Pharmaceutical will purchase its largest shareholder Zhejiang Hisun Group's TCM workshop assets, including 12,400 square meters of structural space and 16,100 square meters of land and production facilities. Valued at 58.46 million yuan ($8.53 million), the entire TCM workshop will be tapped to increase Hisun Pharmaceutical's manufacturing capacity of TCM products and help it realize a complete production chain. The company will issue less than 50 million A shares with par value of one yuan per share to raise funds not exceeding 650 million yuan ($94.9 million). The capital will be used to fund Hisun Pharmaceutical's antiparasite drug project, erythromycin production capacity expansion, production technology reform of new antitumor drugs and acquisition of Hisun Group's R&D assets. (Click here for more - Chinese Language)
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