Chinese pharmaceutical company Chengdu Kanghong Pharmaceutical Group plans to increase its stake in a pharmaceutical unit in Chengdu for a consideration of $10.8 million.
The company already holds a 93% stake in the target company, while the proposed acquisition will increase the same to 100%.
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“The company already holds a 93% stake in the target company, while the proposed acquisition will increase the same to 100%.”
In another proposal by a Chinese company, Cachet Pharmaceutical, a majority stake of 51% is intended to be acquired in a pharmaceutical company based in Xi’an, China.
The deal value is proposed to be ¥18 million ($2.67 million).
US-based Antegrin Therapeutics and Cascadia Therapeutics have announced the completion of their merger.
The merged entity, named Indalo Therapeutics, aims to develop treatments for fibrotic diseases.
