Chinese CRO Paramax Agrees To Be Acquired By RPS Of U.S.
This article was originally published in PharmAsia News
China's Paramax International, a contract-research organization, has agreed to be acquired by the U.S. CRO, ReSearch Pharmaceutical Services, for $1 million in cash and 530,973 shares of RPS common stock. RPS said the Chinese company would serve as its base in Asia once the deal is sealed in May. RPS earlier acquired three small European CROs as part of its effort to expand its support system for drug development. Paramax headquarters are in Beijing, with an operations office in Shanghai. (Click here for more
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