Eisai enters Chinese generics market with acquisition of drugmaker TianYi

Japanese pharma major Eisai (TYO: 4523) has signed an agreement to purchase 100% of the shares of Liaoning TianYi Biological Pharmaceutical held by both Xiaojun Zhao, representative director and president of Longyuan Education Industry Investment & Management Groups and Hong Sun.

The purchase price is 500 million renminbi (around $78.2 million, or 9.6 billion yen). This agreement is expected to take effect once the conditions of transfer have been arranged.

Located in the Benxi High-tech Industrial Development Zone, a pharmaceutical cluster comprised of around 100 companies and six universities including ShenYang Pharmaceutical University, TianYi is a generic pharmaceutical company in China that manufactures and markets pharmaceutical products and active pharmaceutical ingredients. TianYi has manufacturing approval for around 90 pharmaceutical products covering a wide range of diseases, including immune modulators, traditional Chinese medicines and treatments for inflammation and pain relief, dementia, gastritis, intestinal disorders, diabetes as well as chronic arterial occlusion.

In addition, TianYi possesses the latest production line and technology which is compliant with China's Good Manufacturing Practice (GMP) standards to enable the handling of various different formulations such as tablets, capsules, granules, liquid medicines and freeze dried injectables.