CSPC NBP Pharmaceutical, a subsidiary of CSPC Pharmaceutical Group Limited, has signed an equity transfer and capital increase agreement with Wuhan YZY Biopharma’s investors, vendors and shareholders to acquire 39.56% in the company for CNY356m ($54.78m).
CSPC NBP Pharmaceutical is a pharmaceutical company based in China, while Wuhan YZY Biopharma, also based in China, is a biotechnology firm.
The acquisition will enable CSPC NBP Pharmaceutical to expand its operations in the biopharmaceutical market.
International Finance Corporation (IFC) announced plans to purchase an equity stake in Square Pharmaceuticals, a pharmaceutical company based in Bangladesh.
IFC also planned to invest in Square Pharmaceuticals’ drugs plant being developed at Athi River in Kenya.
However, Square Pharmaceuticals rejected the proposal and chose to partner with Standard Chartered Bank to fund the plant construction.
Based in the US, IFC is a private equity and venture capital unit of the World Bank.
Sun Pharmaceutical Industries has increased its stake in Ranbaxy Malaysia Sdn Bhd from 79.55% to 85.9% by acquiring 508,313 shares, representing 6.35% stake, for MYR2.18m ($0.55m).
Based in India, Sun Pharmaceutical is a pharmaceutical company, while Ranbaxy Malaysia is a Malaysian pharmaceutical company.