Zhejiang Betta Pharmaceutical Technology Co., Ltd. agreed to acquire Zhejiang Betta Blueberry Comprehensive Development Co., Ltd from Betta Pharmaceuticals Co., Ltd. for CNY 22.3 million.
December 09, 2020
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Zhejiang Betta Pharmaceutical Technology Co., Ltd. agreed to acquire Zhejiang Betta Blueberry Comprehensive Development Co., Ltd from Betta Pharmaceuticals Co., Ltd. (SZSE:300558) for CNY 22.3 million on December 10, 2020. Zhejiang Betta Pharmaceutical Technology Co., Ltd. should pay the entire equity transfer amount of CNY 22.3 million in cash before December 31, 2020. As at October 31, 2020, Zhejiang Betta Blueberry Comprehensive Development Co. reported total assets of CNY 11.9 million and net assets of CNY 5.4 million. The transaction has been reviewed and approved by Betta Pharmaceuticals Co.'s 13th meeting of the third Board of Directors with 8 votes in favor. The transaction does not need to be submitted to the shareholders meeting for deliberation.
Betta Pharmaceuticals Co., Ltd. is a China-based company principally engaged in the research and development, manufacturing, sales and marketing of drugs to treat malignant tumors, diabetes, cardiovascular and cerebrovascular diseases. The Company's core product is icotinib, which is a kind of antineoplastic agent. Its products also include burn pain relieving plaster, oryzanol vitamin B1 and vitamin B6 tablets. The Company mainly operates its business in domestic market.