Alpharma strengthens its position in China
Drug developer Alpharma Inc. has bought Shenzhou Tongde Pharmaceutical Co. Ltd. a China-based company involved in the production of antibiotics for livestock. Financial terms of the deal for were not disclosed.
The Shenzhou City-based company makes zinc bacitracin, which is the antibiotic that keeps livestock healthy, with annual sales of $5 million, Alpharma said.
Expanded presence in China
The company said it will continue to support Tongde’s customer base and also export the product to other markets. With the acquisition, Alpharma expanded its presence in China.
“In 2006, we announced an agreement with Zhejiang Hisun Pharmaceutical Co., Ltd. that will double the capacity of the company’s largest and fastest growing active pharmaceutical ingredient product, vancomycin, subject to the receipt of the required regulatory approvals,” Dean Mitchell, Alpharma’s president and chief executive, said in a statement.
Related websites:
Alpharma
Shenzhou Tongde Pharmaceutical
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(Source: Associated Press)
Expanded presence in China
The company said it will continue to support Tongde’s customer base and also export the product to other markets. With the acquisition, Alpharma expanded its presence in China.
“In 2006, we announced an agreement with Zhejiang Hisun Pharmaceutical Co., Ltd. that will double the capacity of the company’s largest and fastest growing active pharmaceutical ingredient product, vancomycin, subject to the receipt of the required regulatory approvals,” Dean Mitchell, Alpharma’s president and chief executive, said in a statement.
Related websites:
Alpharma
Shenzhou Tongde Pharmaceutical
To receive the free pig newsletter, subscribe here.
(Source: Associated Press)
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