The Japanese pharmaceutical company Kyowa Kirin Co. plans to sell shares in the Chinese division of the Hong Kong company WinHealth Pharma Group Co. for 15 billion yen ($100 million) as part of the company's restructuring. This is reported in a press release Kyowa Kirin.
In addition, Kyowa Kirin intends to conclude an agreement with DKSH Holding Ltd for the sale of medicines in other countries of the Asia-Pacific region.
The transaction is expected to be completed at the end of September 2024.
Kyowa Kirin has decided to restructure as part of the sale of non-core assets in order to focus on the development of drugs in the field of gene therapy and rare diseases. In January 2024, the company acquired Orchard Therapeutics Plc, which developed the world's most expensive drug for the treatment of a rare disease called metachromatic leukodystrophy, which is sold in the United States at a price of $4.25 million.
Kyowa Kirin is an international specialized pharmaceutical company headquartered in Tokyo (Japan). The company specializes in the development of antibodies in the key therapeutic areas of oncology, nephrology and immunology. Kyowa Kirin entered the Chinese market in the early 1990s. The company sold medicines for the treatment of hematological, oncological and necrological diseases. In 2023, the company expanded production in Shanghai (China).
Winhealth Pharma Group is a Chinese innovative biomedical company developing innovative treatments for patients with rare diseases. The company has long-term strategic partnerships with global biotech companies, including Immedica, Roche, Pfizer, Kyowa Kirin, Shionogi, Cumberland Pharmaceutical and Daiichi-Sankyo. The headquarters is located in Hong Kong.
More news is on the Telegram channel "Mergers and Acquisitions. AK&M».
