Luye Pharma Pays $390 Million for Remaining 42% of Beijing Jialin Pharma

Luye Pharma of Yantai will purchase the 42% of Beijing Jialin Pharma it does not already own for $390 million. In August, Luye announced it would pay $599 million to acquire an initial 58% stake in Beijing Jialin, a company focused on cardiovascular and cancer drugs. In 2013, Beijing Jialin reported $180 million of revenue and net profit of $41 million. The total purchase price of $989 million is 24 times Jialin's 2013 profit. More details.... Stock Symbol: (HK: 2186) Share this with colleagues: // //