Anhui Wanbang Pharmaceutical to Acquire Majority Stake in CRO Firm to Enhance Innovative Drug Business

Stock News

Jun 26

Anhui Wanbang Pharmaceutical Technology Co.,Ltd. (ASX: 301520) has announced plans to acquire a 75.52% equity stake in Anhui Saidesheng Pharmaceutical Technology Co., Ltd. (Saidesheng) for RMB 302 million, using its own or raised funds.

Upon completion of the transaction, Saidesheng will become a controlled subsidiary of the company.

Saidesheng, established in 2010, is a professional contract research organization (CRO) specializing in clinical trials for innovative drugs. It provides comprehensive, end-to-end clinical research services to global pharmaceutical companies and research institutions, possessing full-chain capabilities in clinical trial services.

This acquisition is intended to enable the company to swiftly enter the high-growth field of innovative drug clinical research, optimize its overall business structure, and align with the long-term development trends of the pharmaceutical industry.

The company will leverage its platform advantages to standardize governance and integrate resources, thereby empowering the target company, continuously releasing synergistic effects, enhancing core competitiveness and sustainable profitability, and improving the company's industry brand influence and long-term investment value.

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