Acino International AG and Acino Pharma AG, a Zurich, Switzerland-based pharmaceutical company, has agreed to sell to Luye Pharma Group Ltd., a Chinese pharmaceutical company, its transdermal patch and implant businesses. The divestment includes Acino's transdermal manufacturing operations, distribution, and R&D capabilities.

The divestment is in line with Acino's strategy of shaping the organization for growth in emerging markets and further expanding Acino's regional commercial presence in its key markets of the Middle East and Africa, the CIS region, and Latin America.

Closing is expected to occur in the second half of 2016. Approximately 200 employees in Miesbach have been informed about the divestment to Luye during a Town Hall meeting.

Luye focused on four therapeutic areas: oncology, cardiovascular, metabolism and central nervous system. The company has 30 product portfolios on the market and 21 product candidates in China and seven product candidates overseas, among which five candidates have entered into the clinical trial stage in the US.The company has production facilities and research and development centers in China as well as offices in the US, Malaysia, and Singapore with over 3,400 employees, including over 300 R&D personnel.

Source: Acino