Shanghai Fosun Pharmaceutical (Group) : Fosun Pharma and Korea SD Biosensor Sign Cooperation Agreement

Adding Rapid Diagnosis Technology Platform
Fosun Pharma and Korea SD Biosensor Sign Cooperation Agreement

Fosun Pharma and SD Biosensor Inc. (abbreviated as "SDB") of Korea officially signed a cooperation agreement at Fosun Pharma group headquarters on February 8th, 2012.  Fosun Pharma will consequently own 17.65% stock shares of SDB after the completion of this investment.

SDB  was founded at the end of 2010 after spinning off from an independent department of Korea's listed enterprise Standard Diagnostics Inc. (abbreviated as "SD"). SD was established in 1999 and specialized on producing rapid diagnostic kit, ELISA kit (Enzyme Linked Immunosorbent Assay Kit), detecting reagent for urine, and biosensor as well as raw materials. The company went public in Korea stock market in 2006 and gained Won 300 billion market value, roughly USD280 million, by June 2010.

SDB's products are used for rapid diagnosis, and its main customer groups are based on clinical emergency detection for hospital, rapid detection for clinic and daily disease check for household. In 2011, SDB introduced the Lipido, aBlood Lipid Analyser, and its primary business currently focuses on producing and distributing the blood sugar monitoring system and the Lipido.

Fosun Pharma's Vice President and General Manager of Medical Diagnosis Department Zhu Yaoyi said that the investment of SDB project will add rapid diagnosis technology platform to Fosun Pharma's existing diagnosis business, which will help the comprehensive development of diagnosis business. Meanwhile,, Fosun Pharma will become the exclusive distributor of SDB in China's local market.