{"id":25726,"date":"2022-09-16T20:12:00","date_gmt":"2022-09-16T12:12:00","guid":{"rendered":"https:\/\/flcube.com\/?p=25726"},"modified":"2025-02-06T20:15:02","modified_gmt":"2025-02-06T12:15:02","slug":"us-blocks-asymchems-acquisition-of-snapdragon-chemistry","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=25726","title":{"rendered":"US Blocks Asymchem’s Acquisition of Snapdragon Chemistry"},"content":{"rendered":"\n

US authorities have intervened to block the purchase of US-based Contract Development and Manufacturing Organization (CDMO) Snapdragon Chemistry by China-based CDMO Asymchem Laboratories (Tianjin) Co., Ltd (SHE: 002821<\/a>). According to a press release from Snapdragon, the deal faced opposition from the US Treasury\u2019s Committee on Foreign Investment in the United States (CFIUS), and the two firms were unable to agree on mitigation terms that would have satisfied the committee.<\/p>\n\n\n\n

Background of the Deal<\/strong>
Asymchem and Snapdragon, which had previously formed a partnership, announced plans for the buyout in February this year. The deal was envisioned as a synergistic pairing that would allow Snapdragon to scale up its manufacturing capabilities to commercial levels via Asymchem\u2019s Tianjin plant, while providing the Chinese firm with a US footprint. Snapdragon President and CEO Matthew Bio expressed disappointment, stating, \u201cWe are disappointed this deal was unable to be completed.\u201d<\/p>\n\n\n\n

CFIUS and National Security Concerns<\/strong>
CFIUS was established in 1975 with the authority to block direct foreign investment in US companies on national security grounds. In November 2018, CFIUS\u2019s powers were expanded to allow reviews of any foreign investment in priority technologies, including the biotechnology sector, that would give a 5% or greater holding to a foreign entity. A recent US Treasury report revealed that 44 out of a total of 277 CFIUS \u2018notice\u2019 filings during 2021 were related to transactions involving Chinese companies, up from 17 in 2020.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

US authorities have intervened to block the purchase of US-based Contract Development and Manufacturing Organization…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,10,4],"tags":[522,19,20,1386],"class_list":["post-25726","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","category-policy-regulatory","tag-asymchem-laboratories","tag-cro-cmo-cdmo","tag-finance","tag-she-002821"],"yoast_head":"\nUS Blocks Asymchem's Acquisition of Snapdragon Chemistry - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"US authorities have intervened to block the purchase of US-based Contract Development and Manufacturing Organization (CDMO) Snapdragon Chemistry by China-based CDMO Asymchem Laboratories (Tianjin) Co., Ltd (SHE: 002821). 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