China Meheco To Acquire Huali Jiuzhou
This article was originally published in PharmAsia News
Executive Summary
China Meheco will pay RMB 80 million to acquire 100 percent stake of Beijing Huali Jiuzhou Medicine, a major health care product distributor jointly owned by HolleyPharm and Zhejiang Hua Li Medicine Investment Group. The move represents China Meheco's attempt to shift from a foreign medical trading enterprise to an integrated foreign and domestic trading company. With the acquisition, it can quickly establish drug distribution channels in the nation's major cities to cover almost all grade-three hospitals. This has a strategic significance for the firm to seize domestic market share. When the deal is completed, China Meheco's core business revenue will increase by RMB 1 billion, elevating its position in the local pharmaceutical sector. (Click here for more - Chinese Language)
You may also be interested in...
Executives On The Move: Changes At The Top At Enzolytics, Dyne Therapeutics And Seres Therapeutics
Recent moves in the industry include new chief financial officers at LENZ Therapeutics and Botanix Pharmaceuticals, plus new chief medical officers at Vigil Neuroscience and Voyager Therapeutics.
Israel's Gamida Cell Survives By Selling To Lender
Having finally secured US approval for Omisirge, Gamida was hoping to bag a strategic partner for the cell therapy. A year on, no suitable partner has been identified and the firm is delisting from the NASDAQ and going private.
EU Regulatory Assessors Get AI Boost In Reaching Scientific Decisions
The European Medicines Agency is training scientific staff working for the European medicines regulatory network in how to use a new AI-powered search engine that allows them to easily retrieve information on regulatory precedents.