Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) signed a Equity Transfer Agreement to acquire Teva Pharmaceutical & Chemical (Hangzhou) Co., Ltd. from Teva Pharmaceutical Investments Singapore Pte. Ltd. for $34 million on November 23, 2021. The consideration amount is subject to adjusted according to the assets and liabilities of Teva Pharmaceutical & Chemical on the delivery date. As of June 30, 2021, Teva Pharmaceutical & Chemical reported total assets of $40.99 million and Owners' equity of $38.81 million. This transaction was reviewed and approved at the 13th meeting of the Zhejiang Jiuzhou's seventh board of directors on November 22, 2021 and needs to perform the filing or approval procedures with the relevant local commerce department, market supervision and management department, foreign exchange management department and other government authorities, and approval of the competent authority.