Shanghai Pharma Acquires Second API Maker this Year

Shanghai Pharmaceuticals will buy Changzhou Kony Pharm Co., a company that makes APIs for antivirals and cardiovascular drugs. Shanghai Pharma positioned the acquisition as mutually advantageous. It is also a way for Shanghai Pharma to put some of the $2 billion garnered from its Hong Kong IPO to work. Although the price was not disclosed, Kony Pharma was estimated to be worth about 300 million RMB ($47.6 million). . In January, Shanghai Pharma purchased a 51% share in Jinhe Bio-Technology, a company that specializes in APIs for cancer drugs. More details.... Stocik Symbol: (SHA: 601607.SH; HK: 02607) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});