Nanjing-based Frontier Biotechnologies Inc. is poised to divest a 70% stake in its peptide active pharmaceutical ingredients (APIs) division to Tibet Duo Rui Pharmaceutical Co., Ltd. for RMB 10 million. Following the transaction, the API unit will establish a supply relationship with Frontier, with a separate purchase agreement to be finalized.
Duo Rui Pharma, which went public on the ChiNext board in 2021, reported revenues of RMB 334 million and net profits of RMB 18.85 million in 2023, boasting total assets of RMB 1.072 billion.- Flcube.com
