AsianScientist (Jul. 1, 2013) – Simcere Pharmaceutical Group, a company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, has sold its stake in Jilin Bodapharmaceutical Co., Ltd.
Boda is the manufacturer of Yidasheng, an injectable edaravone drug for management of stroke.
Simcere announced on June 24 that it entered into a share transfer agreement with Zhuhai Rongding Equity Investment Partnership L.P. on June 17 to sell Simcere’s approximately 99.99% equity interest in Jilin Bodapharmaceutical Co., Ltd., for a cash consideration of RMB400 million.
Simcere holds an approximately 99.99% stake in Boda through acquisitions made since 2007. Upon completion of this transaction, Simcere will no longer hold any equity interest in Boda. Consummation of the transaction is subject to certain closing conditions.
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Source: Simcere Pharma.
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