Shanghai Pharma Eyes Acquisitions After Cardinal China Deal

by swisscham in BUSINESS NEWS

Shanghai Pharmaceuticals Holding Co. is exploring further acquisitions after it beat out global buyout firms to buy Cardinal Health Inc.Õs Chinese distribution business in a USD 1.2 billion deal. The state-owned drugmaker is scouting for purchases ofÊpharmaceutical manufacturing assets overseas, David Liu, head of mergers and acquisitions at Shanghai Pharma, said in an interview on 15 November.ÊShanghai Pharma is interested in deals related to specialty drugs, including treatments for cancer and cardiovascular conditions, as well as branded generics, Liu said.ÊShanghai Pharma is looking for further acquisitions in the U.S., as well as some European countries including Germany and Switzerland, he said.ÊThe company would like to sell Shanghai Pharma products overseas and also wants to bring in more foreign pharmaceutical products to sell in China, according to Liu.ÒAfter the 19th Party Congress, President Xi has put in place a lot of attention on health care. ThereÕs a lot of support from the central government and Shanghai government,Ó he said. ÒThis can be an advantage against private enterprises.Ó

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