China Biologic to up equity stake in Guizhou Taibang

Plasma-based biopharma firm China Biologic Products (Nasdaq: CBPO) says that its wholly-owned subsidiary Guiyang Dalin Biotechnology had agreed to acquire an additional 19.84% equity interest in Guizhou Taibang Biological Products from Guizhou Eakan Pharmaceutical, an existing minority shareholder of Guizhou Taibang.

The total consideration of the transaction will be 535 million renminbi ($87.1 million). On completion of the transaction, China Biologic will increase its controlling stake in Guizhou Taibang from 56.39% to 76.23%.

David (Xiaoying) Gao, chairman and chief executive of China Biologic, commented "Increasing our ownership position in Guizhou Taibang is a significant development for China Biologic. Since acquiring the majority stake in 2008, we have been focusing on building up Guizhou Taibang's product portfolio and pipeline, expanding production capacity and enhancing efficiency.”