China-based CR Sanjiu (SHE: 000999), a state-owned pharmaceutical company, has received approval from the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) to acquire an aggregate of 418,306,002 shares of compatriot firm Tasly Pharma Co., Ltd (SHA: 600535). According to the deal struck in August of last year, the purchase amounts to RMB 6.21 billion (USD 870 million) for a 28% interest in Tasly Pharma.
Deal Background
The acquisition is part of CR Sanjiu’s strategic expansion plans, aiming to enhance its presence in the pharmaceutical market through the integration of Tasly Pharma’s assets. The deal underscores CR Sanjiu’s commitment to leveraging synergies and expanding its portfolio to better serve the healthcare needs of the region.
Future Outlook
With SASAC’s approval, CR Sanjiu is poised to proceed with the acquisition, which is expected to strengthen its market position and drive further growth. The integration of Tasly Pharma’s capabilities will provide CR Sanjiu with additional resources and opportunities to innovate and expand its product offerings.-Fineline Info & Tech
