Luye Pharma Buys Majority Stake in Beijing Jialin for $599 Million

Luye Pharma of China will pay $599 million to acquire a 58% stake in Beijing Jialin Pharmaceutical Co., a company that makes drug products for cardiovascular diseases and cancer. In 2013, Jialin produced $185 million of revenue. Last month, Luye staged a $764 million IPO in Hong Kong, and the shares have risen 41% since the IPO. According to Luye, the deal will add to its portfolio of cardiovascular drugs and broaden its sales network. More details.... Stock Symbol: (HK: 2186) Share this with colleagues: // //