Deals this week: Shanghai Fosun Pharmaceutical Group, Shandong Buchang Pharmaceutical, 4SC
Shanghai Fosun Pharmaceutical Group intends to raise approximately HK$2.32bn ($298.3m) through a private placement of 80.6 million shares.
Priced at HK$28.8 ($3.7) a share, the placement includes a 90-day lock-in period from the closing date.
The proceeds will be used to repay the company’s interest-bearing debts, supplement the working capital, and to fund inorganic growth efforts.
Shanghai Fosun Pharmaceutical Group is a pharmaceutical company based in China.
Shandong Buchang Pharmaceutical has entered an agreement with Sihuan Pharmaceutical Holdings Group for the distribution of two Guhong and Troxerutin and cerebroprotein hydrolysate injections.
Both companies involved in the transaction are pharmaceutical firms based in China.
German biotechnology company 4SC intends to issue common shares to raise funds required for the further development of its lead drug candidates resminostat, 4SC-202 and 4SC-208.
The funding will ensure continued development of the products until 2020.
3SBio’s subsidiaries have signed a distribution and promotion agreement with the subsidiaries of Eli Lilly and Company.
The agreement will enable distribution and promotion of Eli Lilly’s insulin products, including Humulin Cartridges, Humulin Kwikpens and reusable pens in China.
The agreement gives 3sBio the exclusive distribution and promotion rights of Humulin in China.
3sBio is a Chinese-based company, while Eli Lilly is based in the US.