AstraZeneca to buy Chinese generics manufacturer

Spring Manufacturer AstraZeneca has announced an extra push into China with the acquisition of Guangdong BeiKang Pharmaceutical Company, a privately owned generics manufacturer based mostly in Conghua town, Guangdong province for an undisclosed total.

The deal can provide AstraZeneca access to a portfolio of injectable antibiotics that it’ll build offered to patients in China.

The transaction is predicted to shut within the initial quarter of 2012. money terms weren’t disclosed.

The deal comes on the heels of AstraZeneca’s US$200m investment during a new producing facility, located in China Medical town, Taizhou, Jiangsu province. it’ll manufacture intravenous and oral solid medicines from the top of 2013.

Mark Mallon, president of AstraZeneca’s Asia-Pacific region, said: ‘AstraZeneca continues to speculate within the key rising markets like China where the mixture of growing populations, elevated levels of chronic diseases and increasing income are driving demand and expectations for higher healthcare treatment.

‘Our new acquisition any underscores our intention to serve the health wants of Chinese patients through our innovative medicines and, increasingly, top quality branded generic treatments that are regionally created to world standards.’

The Chinese pharmaceutical market grew from $10bn in 2004 to $41bn in 2010 and, consistent with IMS Health, is predicted to grow to over $100bn by 2015.

Since initial establishing a presence in China in 1993, AstraZeneca has invested around $500m within the region.