Novartis to acquire 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical
Nov 06, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
Company: Novartis AG (NVS)
Novartis AG, a Switzerland-based pharmaceutical company, has entered into an agreement to acquire an 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd., a developer, producer and distributor of bio-pharmaceutical products and vaccines in China. The transaction is valued at approximately CNY850 million ($125 million) in cash.
Deal Value (US$ Million) 125 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2009-11-04
Deal Participants
Target (Company) Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd. Acquirer (Company) Novartis AG
Deal Rationale
The acquisition enables Novartis to expand its human vaccines presence in China.
% Acquisition 85%
Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved
News Provided by COMTEX
Company: Novartis AG (NVS)
Related terms: acquisition, china, distributor, pharmaceuticals, products, switzerland
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