Chinese facility changes hands from GSK to Fosun Pharmaceutical

Published: 10-Jul-2019
Finance

The deal has been reported to be worth US$36 million

A manufacturing facility in Suzhou, China has been purchased by Fosun Pharmaceuticals from GSK. The deal has been reported to be worth US$36 million, according to a company state.

The new owners of the facility west of Shanghai said that the plant produced a revenue of $94.4m in 2018.

The deal will also allow YaoPharma, Fosun's Chongqing unit, to acquire all production facilities and authorisations for the GSK plant's chronic hepatitis B drug lamivudine.

The news of this sale comes as GSK announced the opening of its new API continuous manufacturing facility in Singapore. This will be a big shift in manufacturing focus in the Asian region for the pharma giant.

  • Companies:
  • GlaxoSmithKline
  • Fosun
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