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Luye Pharma to Pay $205 Million to Acquire Shandong Boan Biological

publication date: Dec 3, 2019

Luye Pharma of Yantai acquired Shandong Boan Biological, a company developing biosimilar products, at a price unofficially reported to be $205 million. Luye said the acquisition includes Boan's drug portfolio, antibody screening platform, antibody manufacturing platform and related IP. Boan currently has 8 biosimilar drugs in development, three of them in clinical trials. Previously, Luye in-licensed four biosimilars from Boan, including biosimilars to Avastin®, Prolia®,Xgeva® and Eylea®. Luye said the molecules at at the IND stage in the US and/or Europe and/or Japan. More details....

Stock Symbol: (HK: 2186)

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