China Grand Pharmaceutical and Healthcare Holdings Ltd (HKG: 0512; CGP) has announced the completion of a 100% stake change registration for Mitsubishi Tanabe Pharma Corporation’s Tianjin subsidiary, as well as for compatriot firms Nanchang Baiji Medicine Technology Co., Ltd. and Jiangxi Bai’an Baiyu Pharmaceutical Technology Co., Ltd, collectively referred to as “Baiji Pharma”. This strategic move is set to augment CGP’s industry layout in the cardiovascular and cerebrovascular emergency sector, as well as in the respiratory and critical care sector.
Mitsubishi Tanabe Pharma’s Tianjin unit, known for its multiple GMP-compliant production lines, manufactures a suite of products for hypertension, angina, coronary heart disease, diabetes, gastrointestinal diseases, and other chronic conditions. The acquisition of this subsidiary for RMB 488 million, following an initial deal in December 2023, is expected to be a significant addition to CGP’s portfolio.
Baiji Pharma, a manufacturer of hormonal nasal spray preparations, is recognized for its three core products aimed at the medical needs of allergic rhinitis patients aged three and above. Its budesonide nasal spray was the first generic of its kind to be approved in China in November 2023. The company also has a fluticasone nasal spray awaiting regulatory decisions, and a mometasone nasal spray prepared for regulatory filing.
These acquisitions underscore CGP’s commitment to expanding its pharmaceutical and healthcare offerings, enhancing its position in the market and improving its product and therapy offerings to patients. The integration of these companies into CGP’s operations is expected to bolster the group’s R&D capabilities, manufacturing expertise, and market reach, particularly in the high-growth areas of chronic disease management and respiratory care.- Flcube.com
