Nycomed, a Swiss drug company focused on emerging markets, is to acquire majority control of a Guangdong pharmaceuticals business in a deal aimed at pioneering worldwide sales of Chinese-developed medicines.
Nycomed, a privately held business with a presence in Russia and Brazil, will expand into China with the purchase of 51.3 per cent of Guangdong Techpool Bio-Pharma for $214m. The deal highlights the growing role of China as a market for western drug companies and, increasingly, as a location for manufacturing and international product research and development.
The deal will allow Nycomed to double its sales in China to about €110m ($153m) a year, while providing a way to boost exports of Chinese healthcare products into other emerging and western markets over the next few years. Techpool has 17 approved patents, including its leading drug Ulinastatin.