Deals and Financings

3SBio (HK: 1530) of Shenyang expanded its biosimilar business by raising its stake in Shanghai CP Guojian Pharma to 54% (see story). 3SBio, which acquired 7% of Guojian last year, paid $213 million for 47% of Guojian’s outstanding shares. Guojian has two biosimilar products on the market: Yisaipu, a biosimilar to Amgen’s (NSDQ: AMGN) Enbrel anti-inflammatory drug, and Xenopax, a biosimilar to Biogen’s (NSDQ: BIIB) Zinbryta anti-organ rejection treatment. In addition, Guojian has a portfolio of mAbs awaiting CFDA approval and a mAb manufacturing facility. 

Eisai Co. (TO: 4523) of Japan added generic drugs to its China portfolio by acquiring Liaoning TianYi Biological Pharma for $78 million (see story). TianYi has China approval for 90 products, including both chemical drugs and TCM products. It currently markets about 20 of these and also produces APIs. With the acquisition, Eisai enters the hyper-competitive generic drug business in China for the first time; its current product line consists entirely of patent-protected drugs. 

Hefei Tianhui Incubator of Technologies signed a $50 million agreement for exclusive China rights to a clinical stage oral insulin product developed by Jerusalem’s Oramed Pharma (NSDQ: ORMP) (see story). HTIT is partially owned by Sinopharm Group. The deal includes a $12 million investment by HTIT in Oramed (giving it a 9% stake), a $3 million upfront payment and $8 million in near-term payments. The rest is for milestones, and HTIT will also pay a 10% royalty, which Oramed said could make a significant impact on its earnings, given China’s large population of diabetes patients. 

Hangzhou Tigermed (SHZ: 300347), a China-based, pan-Asia clinical CRO, paid $28 million to acquire a 98% stake in DreamCIS, a Korean clinical-stage CRO (see story). Tigermed said it would finance the entire amount. Tigermed also formed a strategic agreement with DIAN Diagnostics (SHZ: 300244) to develop a central laboratory in China, along with data management, to improve the services it offers to its clients. 

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