Issue Date: February 13, 2012
Shanghai Pharma Acquires API Maker
Shanghai Pharmaceuticals has offered to acquire a majority stake, later to be followed by 100% ownership, in Changzhou Kony Pharma, a manufacturer of active pharmaceutical ingredients (APIs). Shanghai Pharmaceuticals’ offer values Kony at $48 million. Established in 1986 in Changzhou, Jiangsu province, Kony specializes in nucleoside antiviral APIs and losartan, a blood pressure drug that lost patent protection in 2009. Shanghai Pharmaceuticals says the Changzhou site will complement other API facilities it is building in Shanghai’s Xinghuo development zone.
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