AZ buys Chinese generics manufacturer
UK drug maker AstraZeneca has bought Chinese non-branded drugmaker Guangdong BeiKang Pharma.
Guangdong BeiKang Pharmaceutical is a privately-owned generics manufacturing company, based in Conghua City that has a portfolio of injectable anti-infective drugs.
The deal – financial terms of which were not disclosed – will see AstraZeneca take responsibility for manufacturing and commercialisation of the drugs in China.
The news comes just a few months after AstraZeneca announced plans for a $200m manufacturing facility in Taizhou, Jiangsu province in part of an effort to expand in the country’s pharmaceutical sector.
It also follows just days after the firm said it will reduce its sales force by 1.150 people to reduce its costs ahead of patent expiry for some of its top selling pharmaceutical products.
