China Biopharmaceuticals completes acquisition of Enshi Pharmaceuticals
China Biopharmaceuticals Holdings (CBHP), a US public company with operating subsidiaries and senior management based in China which focuses on the development, manufacturing and distribution of inn-vative drugs in China, has completed the acquisition of all of the shares in RACP Pharmaceutical Holdings and its wholly owned subsidiaries, including Shenyang Enshi Pharmaceutical Co., from RimAsia Capital Partners.
China Biopharmaceuticals Holdings (CBHP), a US public company with operating subsidiaries and senior management based in China which focuses on the development, manufacturing and distribution of inn-vative drugs in China, has completed the acquisition of all of the shares in RACP Pharmaceutical Holdings and its wholly owned subsidiaries, including Shenyang Enshi Pharmaceutical Co., from RimAsia Capital Partners.
Eric Wei, a managing partner of RimAsia, will join the CHBP Board of Directors.
"With 2005 revenue of US$11.3m and net income of $5.1m, Enshi will have a positive impact on CHBP's financial and market profile, and further demonstrates our strategy of growth through accretive, value-enhancing acquisitions" said Chris Mao, ceo of CHBP.
"With our leading edge technology and research capabilities, robust pipeline of new drugs, and domestic and leading brand name consolidation approach, CHBP remains well-positioned for the future."