Nycomed to acquire majority in Chinese firm

The pharmaceutical group Nycomed has acquired 51.34% of the shares of Guangdong Techpool Bio-Pharma Co., Ltd., a fast-growing Chinese pharmaceutical company based in Guangdong.

A press release states that the acquisition demonstrates the importance of China as a key part of Nycomed’s emerging markets strategy. Nycomed gains access to a leading, high quality manufacturer of biologic and protein-based drugs with international potential.

Aftenposten quotes Financial Time as saying that the acquisition may double Nycomed's sale of pharmaceuiticals to China to around NOK 900 million annually.

At the same time the agreement will open for global sales of Chinese medicines, according to the paper.

Nycomed is a privately owned, global pharmaceutical company with headquarters in Zurich, Switzerland. It was established in Norway in 1874 by Morten Nyegaard.

Associated companies: