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news.Aida Pharmaceuticals has completed the acquisition of a controlling interest in Jiangsu Institute of Microbiology, a microbiology research institute in the People's Republic of China.
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The controlling interest in Jiangsu Institute of Microbiology was acquired through two of Aida’s subsidiaries, namely Hangzhou Aida Pharmaceutical (which acquired a 43% equity interest) and Changzhou Fangyuan Pharmaceutical (which acquired a 55% equity interest).
JSIM has several drugs currently undergoing clinical testing and has new products in its development pipeline. This acquisition is expected to add several new products to Aida’s existing line of products, thus diversifying its product mix and enabling the company to increase its market share in the PRC pharmaceutical market.