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Shanghai Pharma Eyes Acquisitions After Cardinal China Deal

by bloomberg.com posted 6months ago 117 views
Shanghai Pharmaceuticals Holding Co. is exploring further acquisitions after it beat out global buyout firms to buy Cardinal Health Inc.’s Chinese distribution business in a $1.2 billion deal. The state-owned drugmaker is scouting for purchases of pharmaceutical manufacturing assets overseas, David Liu, head of mergers and acquisitions at Shanghai Pharma, said in an interview Wednesday. Shanghai Pharma is interested in deals related to specialty drugs, including treatments for cancer and cardiovascular conditions, as well as branded generics, Liu said. Shanghai Pharma said Wednesday it agreed to purchase Cardinal Health’s pharmaceutical and medical products distribution business in China.