3SBio Pays $85 Million to Acquire Zhejiang Washeng Pharma

3SBio of Shenyang acquired Zhejiang Wansheng Pharma, a small molecule drugmaker, for $85 million. Wansheng is approved to market 55 products in the areas of oncology, diabetes, cardiovascular and dermatology. It also has 13 GMP production lines. The transaction is priced at 20 times Wansheng's earnings and slightly less than two times sales. According to 3SBio, which is known mainly as a biologics company, the acquisition provides a manufacturing facility for 3SBio's 12 small-molecule pipeline drugs and adds depth to its portfolio of nephrology and oncology offerings. More details.... Stock Symbol: (HK:1530) Share this with colleagues: // //