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Shanghai Pharma Acquires Second API Maker this Year

publication date: Feb 6, 2012
Shanghai Pharmaceuticals will buy Changzhou Kony Pharm Co., a company that makes APIs for antivirals and cardiovascular drugs. Shanghai Pharma positioned the acquisition as mutually advantageous. It is also a way for Shanghai Pharma to put some of the $2 billion garnered from its Hong Kong IPO to work. Although the price was not disclosed, Kony Pharma was estimated to be worth about 300 million RMB ($47.6 million). . In January, Shanghai Pharma purchased a 51% share in Jinhe Bio-Technology, a company that specializes in APIs for cancer drugs. More details....

Stocik Symbol: (SHA: 601607; HK: 02607)

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