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
See more

You may also like

Manufacturing

GSK bolsters its US drug manufacturing capabilities with $800m investment

Read more
The expansion will double the size and capacity of its Marietta site, supporting the manufacture of sterile liquid vaccines and production for clinical trials

Trending Articles

  1. Syncona launches early-stage drug development company, Slingshot Therapeutics The novel early-stage pharmaceutical company aims to collaborate with academic institutions to bring their findings to the clinic, with their first programme centring around inflammatory disease
  2. Ascend Advanced Therapies expands US footprint through Advanced BioScience Laboratories merger Ascend's collaboration with EW Healthcare partners will expand its reach in the US pharmaceutical market through capital investment and an uptick in GMP AAV manufacturing capacity
  3. Merck attains $588m global license for PD-1/VEGF bispecific antibody from LaNova Medicines The bispecific antibody is designed for oncological indications and functions by inhibiting the PD-1/PD-L1 and the VEGF/VEGFR receptor signalling pathways
  4. Accord Healthcare bolsters UK drug manufacturing capabilities with £50m Newcastle facility The novel automated facility will allow Accord to produce therapeutics for oncological and autoimmune diseases for the UK and beyond
  5. AstraZeneca to stop production of Pulmicort pMDI Agreements with SkyePharma expected to be terminated

Upcoming event

CPhI India

26–28 November 2024 | Online Conference & Networking | Delhi, India See all

You may also like

Manufacturing

GSK bolsters its US drug manufacturing capabilities with $800m investment

The expansion will double the size and capacity of its Marietta site, supporting the manufacture of sterile liquid vaccines and production for clinical trials
Manufacturing

Wood wins significant $50m US Life Sciences project with GSK

Wood’s three-year contract will support GSK’s production of innovative specialty medicines for the US and globally as part of GSK’s plan to develop the site
Finance

Sareum notes completion of Sierra Oncology’s acquisition by GSK

Sareum Holdings, the specialist drug development company, notes that GSK has completed its acquisition of Sierra Oncology, the licence holder for SRA737 (a novel Chk1 inhibitor), for $1.9 billion in cash
Finance

GSK shingles vaccine available in the UK

The UK launch of the vaccine follows "unanticipated demand," the company says
Finance

Medicines Manufacturing Innovation Centre completes construction

The internal fit out of the facility is planned to be completed in early 2022
Finance

Sanofi and GSK in discussions with EU to supply COVID-19 vaccine

Sanofi and GSK in advanced discussions with the European Union to supply up to 300 million doses of COVID-19 vaccine
Ingredients

Sanofi and GSK team up on adjuvanted COVID-19 vaccine

The companies have entered into a Material Transfer Agreement to enable them to start working together immediately
Subscribe now