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news.China Biologic Products, a provider of plasma-based biopharmaceutical products, has agreed to acquire a 90% controlling interest in Chongqing Dalin Biologic Technologies. The transaction is expected to be completed within two months.
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Upon completion of the acquisition, China Biologic plans to re-open the additional plasma collection station in 2009. China Biologic intends to employ more advanced collection techniques at these stations, improving the company’s yields and generating additional plasma supply.
The company will acquire the 90% interest in Dalin for approximately $28.5 million, to be paid in four installments. Management believes a portion of the acquisition price will be paid for via an anticipated bank loan.
Chao Ming, CEO of China Biologic Products, said: “This acquisition will transform our company to become the largest non-state-owned producer of plasma-based biopharmaceutical products in China, in terms of market share and production capacity. We expect that this transaction will allow us to increase our supply of plasma by almost doubling our collection quantity, expand our product portfolio and achieve our geographic expansion plans.”