3SBio acquires Zhejiang Wansheng Pharmaceutical

Hong Kong-listed biotech firm 3SBio (HKEX: 1530) has acquired the entire equity interest in Zhejiang Wansheng Pharmaceutical, a limited liability company incorporated in the People’s Republic of China for an aggregate consideration of 528 million renminbi ($85 million).

"3SBio's proven capabilities in biologicals, combined with Zhejiang Wansheng's expertise in small molecule manufacturing, will provide the enlarged group with a flexible platform for addressing the unmet medical needs of patients and their health care professionals. Zhejiang Wansheng's current product portfolio includes six antidiabetic and hypertension products that are commonly used by chronic kidney disease patients, which will expand our products offering in the dialysis market in addition to our current nephrology portfolio. The acquisition also expands our portfolio of oncology drugs as Zhejiang Wansheng has six approved oncology products," commented Lou Jing, chief executive and chairman of 3SBio.

Solid base for expansion in other areas