Sihuan Pharma to acquire Dupromise Holdings for $360 mln
Shanghai. November 25. INTERFAX-CHINA - Sihuan Pharmaceutical Holdings Group Ltd., China's largest manufacturer of cardiocerebral vascular drugs, has signed an agreement to acquire in full Dupromise Holdings Ltd. for a maximum of RMB 2.4 billion ($360.72 million), Sihuan Pharma announced Nov. 25.
Dupromise Holdings owns Dupromise Pharmaceutical (China) Co. Ltd., a foreign-invested enterprise based in Tonghua City, Jilin Province, which focuses on the production and distribution of cardiocerebral vascular drugs in China. Dupromise Pharma reported net profit of RMB 11.72 million ($1.76 million) in 2009.
Sihuan Pharma aims to expand its product portfolio through the acquisition. Dupromise Pharma has more than 40 types of product, three of which are exclusive, the announcement said.