Mon, 01/31/2011 - 15:13

Fosun Pharma to enter vaccine market via Aleph Bio acquisition

Shanghai. January 31. INTERFAX-CHINA - Shanghai Fosun Pharmaceutical (Group) Co. Ltd. announced on Jan. 29 that it will acquire a 75 percent stake in vaccine maker Aleph Biomedical Co. Ltd. for RMB 675 million ($102.43 million) in a bid to enter China's vaccine market.

According to the announcement, privately-owned Fosun Pharma will make the acquisition through two of its wholly-owned subsidiaries. Fosun Industrial (Hong Kong) Co. Ltd. will purchase a 74 percent stake for RMB 666 million ($101.06 million), and Shanghai Fosun Pharmaceutical Industry Development Co. Ltd. will buy a 1 percent stake for RMB 9 million ($1.37 million).

Based in Liaoning Province's Dalian City, Aleph Bio is one of 11 flu vaccine makers in China, and a leading domestic manufacturer of rabies vaccines. The company has a total registered capital of RMB 52 million ($7.89 million). Its sales hit RMB 97.81 million ($14.84 million) in the first 11 months of 2010, and RMB 66.78 million ($10.13 million) in 2009.

Fosun Pharma's sales revenue grew 19 percent year-on-year in the first three quarters of 2010, while net profit was up 28 percent.