China-based Shanghai-listed Nanjing Pharmaceutical Co., Ltd (SHA: 600713) is set to acquire a respective 55%, 55%, and 100% stake in three subsidiaries of compatriot firm Jiangsu Chia Tai Tianqing Pharmaceutical Co., Ltd. The deals entail a consideration of RMB 148 million (USD 21.2 million). The subsidiaries involved are Suzhou Tianqing Xingwei Pharmaceutical Co., Ltd, Zhejiang Tianqing Zhongwei Pharmaceutical Co., Ltd, and Lianyungang Chia Tai Tianqing Pharmaceutical Co., Ltd.
Subsidiaries and Business Focus
Suzhou Tianqing, a liver drug maker, covers liver disease, oncology, diabetes, respiratory disease, and cardiovascular disease. Zhejiang Tianqing is a pharmaceutical wholesaler focused on biologics. Lianyungang Tianqing’s main business is the wholesale of medicine and medical equipment. These acquisitions position Nanjing Pharmaceutical to expand its presence in key therapeutic areas and enhance its distribution capabilities.
Future Prospects and Strategic Implications
The acquisition of these subsidiaries marks a significant step for Nanjing Pharmaceutical in strengthening its portfolio and market reach. By integrating these businesses, Nanjing Pharmaceutical aims to leverage their expertise and market presence to drive growth and innovation in the pharmaceutical sector. This strategic move underscores the company’s commitment to addressing significant unmet medical needs and improving patient outcomes.-Fineline Info & Tech
