Zhejiang Jiuzhou Pharmaceutical Co., Ltd signed a Equity Transfer Agreement to acquire Teva Pharmaceutical & Chemical Co., Ltd. from Teva Pharmaceutical Investments Singapore Pte. Ltd. for $34 million.
November 23, 2021
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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.
Zhejiang Jiuzhou Pharmaceutical Co.,Ltd. is a China-based company principally engaged in the research, development, production and sales of chemical Active Pharmaceutical Ingredients (API) and intermediates. The Company mainly operates through two segments, including the New Drug and Intermediates Contract Development and Manufacturing Organization (CDMO) segment and the Specialty APIs and Intermediates segment. The New Drug and Intermediates CDMO segment mainly provides services for innovative medicines of pre-clinical chemical manufacturing and controls (CMC), clinical phases I, II and III, new drug application (NDA) and various stages after going public. The Specialty API and Intermediates segments mainly provides services including patent breakthroughs, production process improvement, drug certificate declaration, and cGMP standard commercial production for patented expired or soon-to-be-expired drugs for global chemical and generic drug manufacturers.
Zhejiang Jiuzhou Pharmaceutical Co., Ltd signed a Equity Transfer Agreement to acquire Teva Pharmaceutical & Chemical Co., Ltd. from Teva Pharmaceutical Investments Singapore Pte. Ltd. for $34 million.