The transaction involved a total capital investment of $74.6 million, in cash paid to Guangzhou Pharmaceuticals (GP Corp.) in exchange for a 50% ownership interest in GP Corp. Alliance BMP holds four of the eight GP Corp. board seats.
David Gao, CEO of Beijing Med-Pharm, said: “We believe this accretive transaction helps to solidify our distribution presence in Guangzhou, which is one of the most exciting markets for healthcare products in Southern China.”