Fosun Pharma to Acquire Majority Stake in Alzheimer's Drug Developer for RMB1.27 Billion

Reuters12-15 22:38
Fosun Pharma to Acquire Majority Stake in Alzheimer's Drug Developer for RMB1.27 Billion

Fosun Pharma Industrial has entered into an agreement to acquire 8.6667% equity interest in a target company from Shiyin Investment and Shibirun for a total consideration of RMB143 million. Following the transaction, Fosun Pharma Industrial will also subscribe for newly increased registered capital in the target company, investing RMB1,269 million to secure a 46.3504% equity stake after completion. In addition, Fosun Pharma Industrial and the founder of the target company or their affiliates will jointly establish a special purpose vehicle (SPV), with Fosun Pharma Industrial holding a 51% stake and the founder or affiliates holding 49%. The SPV will acquire a 2% equity interest in the target company from Shanghai Yaoqijiu for RMB1 or the minimum legally permissible price. The transaction aims to strengthen Fosun Pharma Group's position in the market and advance clinical development for Alzheimer's disease treatments.

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