3SBio acquires Italy's Sirton Pharmaceuticals

Chinese biotech firm 3SBio today revealed that last month it acquired the entire share capital of Italy-based Sirton Pharmaceuticals SpA from First Shanghai Limited. Financial terms of the transaction were not disclosed.

"Expanding 3SBio's footprint in key developed markets is a core strategic objective for 3SBio," commented Jing Lou, chairman and chief executive of 3SBio Inc. He continued: "With a team of experienced professionals and a client base of leading pharmaceutical companies, Sirton provides 3SBio with a solid base to manufacture, develop and market pharmaceutical products in Europe. We look forward to working with Sirton's management team and clients to provide safe, affordable and innovative medicines to patients across Europe."

Giorgio Biella, managing director of Sirton, added: "My colleagues and I look forward to working with the team from 3SBio as we pursue our common goal of manufacturing high-quality medicines for international markets. 3SBio's proven R&D capabilities, global business development strategies, and strong financial position will complement Sirton's existing client relationships and manufacturing experience in Europe."