Sino Biopharmaceutical to divest 67% stake in unit CP Qingdao for $253 mln – ET HealthWorld | Pharma

0
6


Bengaluru: Hong Kong-listed Sino Biopharmaceutical will promote a 67 per cent stake in unit CP Pharmaceutical (Qingdao) for 1.82 billion yuan ($253.28 million) to entities managed by state-owned Guoxin Group, the corporate stated late on Tuesday.

Sino Biopharmaceutical will hold a 26 per cent stake in CP Qingdao after the disposal, the pharmaceutical conglomerate stated in a submitting to the Hong Kong Stock Exchange.

CP Qingdao, established in China, is especially concerned in analysis and improvement, manufacturing and sale of osteoporosis medicines and marine prescribed drugs.

By the deal, Guoxin Group plans to enter the life and well being trade characterised with marine organic prescribed drugs, Sino Biopharmaceutical stated.

The corporate expects to report a achieve of about 1.60 billion yuan on the disposal, topic to audit. ($1 = 7.1858 Chinese language yuan)

  • Printed On Feb 7, 2024 at 10:49 AM IST

Be part of the neighborhood of 2M+ trade professionals

Subscribe to our publication to get newest insights & evaluation.

Obtain ETHealthworld App

  • Get Realtime updates
  • Save your favorite articles


Scan to obtain App




Source link

Previous article30+ artisans will exhibit in Bengaluru for Venture Tarasha X Inventive Dignity collab
Next articleThe Kerala Story OTT launch date confirmed, test when and the place to look at

LEAVE A REPLY

Please enter your comment!
Please enter your name here