Eisai Agrees to Buy Chinese Generic Drug Maker
Eisai Co., Ltd. and its China holding company, Eisai China Holdings Ltd. , have agreed to acquire Liaoning TianYi Biological Pharmaceutical Co., Ltd., a generic drug company in Benxi, Liaoning Province, China for RMB 500 million ($78 million). Through this acquisition, Eisai will enter the generic pharmaceutical business in China in addition to expanding its existing business focused on new medicines.
Located in the Benxi High-tech Industrial Development Zone, a pharmaceutical cluster comprised of around 100 companies and six universities including ShenYang Pharmaceutical University, TianYi is a generic pharmaceutical company in China that manufactures and markets pharmaceutical products and active pharmaceutical ingredients. TianYi has manufacturing approval for approximately 90 pharmaceutical products covering a wide range of diseases, including immune modulators, traditional Chinese medicines, and treatments for inflammation and pain relief, dementia, gastritis, intestinal disorders, diabetes as well as chronic arterial occlusion. In addition, TianYi has production lines and technology that are compliant with China’s GMP (Good Manufacturing Practice) standards to enable the handling of various different formulations such as tablets, capsules, granules, liquid medicines, and freeze-dried injectables.