China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512; CGP) has announced its intention to acquire a 75.35% controlling stake in the Tianjin subsidiary of Japan-based Mitsubishi Tanabe Pharma Corporation for a consideration of HKD 400 million (USD 51 million). This strategic move signifies CGP’s expansion into a broader range of pharmaceutical products and manufacturing capabilities.
The Tianjin-based unit, a core subsidiary of Mitsubishi Tanabe in China, specializes in the manufacturing and marketing of innovative drugs for the treatment of cardiovascular, cerebrovascular, endocrine metabolism, and gastrointestinal tract diseases, among other chronic conditions. Equipped with multiple GMP-aligned production lines, the subsidiary boasts a comprehensive product portfolio that includes tablets, capsules, granules, injections, and other dosage forms. It has been instrumental in the manufacturing of a dozen commercial-stage products, solidifying its position in the pharmaceutical industry.- Fineline.com
