China Meheco To Acquire Holley Pharmaceuticals’ Subsidiary
This article was originally published in PharmAsia News
China Meheco has signed an in-principle agreement with the shareholders of Beijing Holley Jiuzhou Pharmaceuticals to acquire 100 percent of the firm with cash. Holley Jiuzhou is 88.24 percent owned by Holley Pharmaceuticals (Chongqing) and 11.76 percent held by HolleyPharm's investment arm. The purchase, if approved by the three parties' respective boards and majority shareholders, will facilitate China Meheco's expansion of its drug distribution network and business. The company expects the acquisition to help it achieve sales revenue and profit of 1 billion yuan and 5 million yuan respectively. (Click here for more - Chinese Language)
You may also be interested in...
The International Medical Device Regulators Forum, perhaps most notorious for its efforts to standardize audit processes between nations with its Medical Device Single Audit Program, is also focusing on harmonizing device reviews and adverse event codes.
Dr Reddy’s Laboratories has become the third Revlimid ANDA sponsor to settle patent litigation action with Bristol Myers Squibb’s Celgene. However, the Indian company will join Alvogen in not being able to launch before first settler Natco, which has partnered with Teva’s Watson.
Strides is expanding its presence in synthetic injectables via a new company, SteriScience, while keeping its biologics injectables business under Stelis. A head start with existing IP assets and those from a new joint venture with Brooks Labs will enable the fledgling firm to file its first ANDA in fiscal 2021, with break-even foreseen in two years.