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Jiuzhou Pharma Pays $16 Million to Acquire US-based API CDMO

publication date: Sep 13, 2019

Zhejiang Jiuzhou Pharma, an API company, will pay $16 million to acquire PharmAgra Labs of North Carolina, a small API CRO/CDMO business with contacts in the US and Europe. Jiuzhou makes APIs and it also provides CRO/CDMO services for APIs in China through its Rainbow Pharma division. In 2016, Jiuzhou formed a US JV with Frontage Labs to offer API and intermediate CDMO services. Earlier this month, Jiuzhou announced it would pay $110 million to acquire Novartis's Suzhou API facility and supply APIs to Novartis. More details....

Stock Symbols: (SHA: 603456) (NYSE: NVS)

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