Novartis (NVS) Acquires Majority Stake in Zhejiang Tianyuan Bio-Pharmaceutical for $125 Million
Hard To Treat Diseases (OTC: HTDS) announced that Novartis (NYSE: NVS), is acquiring an 85% stake in HTDS' H1N1 Vaccine partner, Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd., for US$125 million.
Novartis of Switzerland will begin a five-year, $1 billion China initiative with two aims: the company will dramatically increase its investment in its China R&D facility, and it will seek to make China one its top three markets worldwide.
HTDS' Chinese subsidiary, Mellow Hope, is the exclusive agent of Zhejiang Tianyuan Bio-pharmaceutical for International marketing and sales. Zhejiang Tianyuan Bio-pharmaceutical has been granted a H1N1 license on September 24, 2009 by the Chinese government agency, SFDA.
[SM]
Novartis of Switzerland will begin a five-year, $1 billion China initiative with two aims: the company will dramatically increase its investment in its China R&D facility, and it will seek to make China one its top three markets worldwide.
HTDS' Chinese subsidiary, Mellow Hope, is the exclusive agent of Zhejiang Tianyuan Bio-pharmaceutical for International marketing and sales. Zhejiang Tianyuan Bio-pharmaceutical has been granted a H1N1 license on September 24, 2009 by the Chinese government agency, SFDA.
[SM]
You May Also Be Interested In
- DISH Network (DISH) Sued by Networks for 'Commercial Skipping' Feature
- BofA (BAC), Barclays (BCS) to Sell Remaining Archstone Interest in $1.58B Deal to Lehman Bros.
- Dow Chemical (DOW) Wins $2.16B in K-Dow Arbitration
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
