The company expects to deliver more comprehensive end-to-end services through this acquisition.
Viva Biotech has entered into a share purchase agreement, pursuant to which, they will acquire 80% of equity interest in Langhua Pharmaceutical, with a price of $368.5m, the company said in a press release. Through this acquisition, Viva Biotech will benefit from an established contract development & manufacturing organisation (CDMO), the company claimed.
As Langhua Pharmaceutical focuses mostly on APIs, intermediates production, and CDMO projects, the acquisition is claimed to enable Viva Biotech to exploit from the future high-speed growth service demand of portfolio companies under EFS mode, and expand the portfolio of potential incubation projects.
An extraordinary general meeting (EGM) is planned to be held for the shareholders to consider and approve the acquisition, the press release added.
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