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December 22, 2017

Deals this week: China Meheco, Recordati, Novartis

China Meheco intends to form a Chinese pharmaceutical joint venture (JV) through its subsidiary with a capital of CNY10m ($1.51m).

China Meheco intends to form a Chinese pharmaceutical joint venture (JV) through its subsidiary with a capital of CNY10m ($1.51m).

To be based in Hubei, a 51% share in the JV will be owned by China Meheco with an investment of CNY5.1m ($0.77m).

Recordati has purchased Bayer Consumer Care health brands Transipeg, TransipegLib and Colopeg.

“LP Pharmaceutical (Xiamen) has secured $30m in a series B venture financing round.”

Transipeg and TransipegLib are macrogol-based laxatives used to treat constipation symptoms in adults, while Colopeg is a large-volume bowel cleanser used while preparaing for endoscopic exploration.

Novartis has signed an agreement to acquire Ultragenyx Pharmaceutical’s rare pediatric disease priority review voucher (PRV) for $130m.

The PRV was granted in November, following the approval of MEPSEVII (vestronidase alfa) by the US Food and Drug Administration (FDA).

The drug is indicated for the treatment of Mucopolysaccharidosis VII in children and adults.

Novartis is a Switzerland-based pharmaceutical company, while Ultragenyx is a biopharmaceutical company based in the US.

LP Pharmaceutical (Xiamen) has secured $30m in a series B venture financing round led by SDIC Fund Management Corporation.

The financing round also included participation from CMB International Capital Corporation and Zhangzhou Pien Tze Huang Pharmaceutical.

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