|
|
|
|
|
HONG KONG, July 26, 2016 - (ACN Newswire) - 25 July 2016, Luye Pharma Group Ltd. (2186.HK) (the "Company", and together with its subsidiaries, "Luye Pharma" or the "Group") announces its agreement to acquire the TDS business from Acino, through the purchase of the entire issued share capital of Acino AG and Acino Supply AG (the "Target Group") for EUR245,000,000 (the "Acquisition").
The Target Group is a Europe based global leader in advanced transdermal drug delivery systems ("TDS") and it is one of the largest independent TDS manufacturers in Europe. The TDS business includes the business of developing, producing and distributing therapeutic systems for drug release and related products, and providing related services, which in particular include the transdermal systems and implants.
The product portfolio of the Target Group is focused on more sophisticated and higher margin specialty patch categories such as CNS, pain and hormone spaces under several successfully commercialised and hard-to-make formulations such as Rivastigmine, Buprenorphine, Fentanyl and fertility control patch.
The Target Group has a stable cash flow and a relatively high level of net profit margin, which are primarily generated from developed markets. Possessing high quality factories with European Union Good Manufacturing Practice certificate and certification from the Food and Drug Administration of the United States, the Target Group has strong manufacturing and quality control capabilities. Luye Pharma also considers that, with clear product lines focusing on the specialty patch categories of central nervous system (CNS) and pain spaces, the products of the Target Group are expected to create a synergistic effect with the Group's existing lines of business. Furthermore, the competition in the market of TDS and subcutaneous implants products (being one of the Target Group's products) is low and as such, Luye Pharma believes that there is substantial growth potential in the Target Group's present and pipeline products.
Luye Pharma believes that the Acquisition represents a valuable growth opportunity to acquire a well-established European specialized pharmaceutical platform and a leading business in niche markets, together with a strong revenue base supported by a diversified product portfolio as well as a promising pipeline of products. The Acquisition will be a significant step in the Group's international expansion strategy and will help the Group achieve various strategic goals.
"As we execute our international strategy, this transaction serves as an important milestone. With its innovative technology platform, focused product portfolio, loyal customer base and experienced leadership, this acquisition will significantly enhance Luye Pharma's international capabilities and accelerate its penetration into broader therapeutic areas and geographies", said Dr. Yehong Zhang, Luye Pharma (International) CEO.
"The divestment will allow us to focus on the growth in our key markets, and we believe that Luye's vision and strategy fits better with our R&D and manufacturing capabilities in our present TDS business. An R&D focused company like Luye will be able to leverage the high potential of our TDS operations in the best possible way also in the future", says Kalle Kand, CEO at Acino.
About Luye Pharma
Luye Pharma Group Ltd. focuses on developing, producing, marketing and selling innovative pharmaceutical products in four of the largest and fastest growing therapeutic areas - oncology, cardiovascular, metabolism and the central nervous system. The Group has a portfolio of 30 products in the market and 21 product candidates in China and seven product candidates overseas, among which five candidates have entered into the clinical trial stage in the United States under the U.S. Food and Drug Administration rules.
The Group has established production facilities and research and development centers in China as well as offices in the U.S., Malaysia and Singapore with over 3,400 employees, including over 300 R&D personnel. The Group's products are marketed and sold in a vast majority of provinces, autonomous regions and municipalities in the PRC, as well as a number of foreign countries and regions. The Group's nationwide sales and distribution network enables it to sell its products to over 10,000 hospitals in the PRC.
On 9 July 2014, the shares of the Company were listed on the Main Board of the Stock Exchange of Hong Kong Limited. Over the past 22 years, the Group has grown into an international pharmaceutical group with market leading position in its key therapeutic areas. With the corporate value of "Professional Technology Serves Human Health" and the corporate philosophy of "Customer Orientation, Efficiency, and Employee Achievement", the Group is committed to providing high quality pharmaceutical products and professional services for customers and patients. More information on www.luye.cn
About Acino
Acino, a Swiss pharmaceutical company headquartered in Zurich, develops, manufactures and internationally markets well-proven and innovative pharmaceuticals in novel drug delivery forms. Acino is a leader in advanced drug delivery technologies with a focus on modified release oral forms, oral dispersible forms, transdermal systems and extended release parenterals, for which it also holds patents.
As a partner of pharmaceutical companies worldwide, Acino supplies finished in-house developed products and/or provides customized one-stop solutions from product development and registration to contract manufacturing, packaging and logistics. Under the brand "Acino Switzerland", Acino markets Swiss-quality medicines in emerging markets with a focus on the Middle East, Africa, Russia/CIS and Latin America. More information on www.acino-pharma.com
Topic: Press release summary
Source: Luye Pharma Group Ltd
Sectors: Daily Finance, Daily News, BioTech
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
