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news.Sun Moral, a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group, has entered into an agreement with JSAB Investment Holding to take over the entire equity interest in target company Dupromise Holdings for $360.72m.
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The acquisition will be partly funded by the proceeds of Sihuan’s IPO and partly from the company’s internally generated funds.
Sihuan has been actively looking for opportunities to acquire suitable pharmaceutical companies in the People’s Republic of China that match its criteria for synergistic growth potential, to further broaden its product portfolio and sales network, and enhance its market share and competitiveness as part of its long-term business vision.
Having developed and manufactured products with more than 40 specifications, Dupromise group companies have three exclusive products and various exclusive formulations mainly covering cardio-cerebral vascular diseases and other therapeutic areas.
Sihuan believes that the inclusion of the Dupromise group companies into the group will further enrich its product portfolio (particularly in the cardio-cerebral vascular areas), provide greater synergy, strengthen its competitiveness and enhance the group’s profile as one of the leading pharmaceutical companies in the China.