Avanc Pharma acquires Chengdu List Pharmaceutical | Optimize product mix and achieve transformation of the platform business

Release time:2019-07-04 15:06
On June 25, Avanc Pharmaceutical Co., Ltd (Avanc Pharma) filed an application with Shanghai United Assets and Equity Exchange (SUAEE), joining in the bid for 54,752,825 shares of Chengdu List Pharmaceutical Co., Ltd (List Pharma), representing 75.9085% of its total equity capital, China SDIC Gaoxin Industrial Investment Corp., Ltd was selling by open listing. On the same day, Avanc Pharma signed an Equity Transfer Agreement with Chengdu List Investment (Group) Co., Ltd and seven natural persons, including Huang Shaoyuan, and was assigned 15,808,417 shares of List Pharma in total, about 21.9166% of its total equity capital, held thereby. SUAEE confirmed that Avanc Pharma was the qualified assignee and the only bidder. Following the acquisitions via the said open listing and agreement, Avanc Pharma now has a 97.8251% stake in List Pharma for a consideration of RMB 736,294,412 and is an absolute controller of the latter. 

List Pharma
Chengdu List Pharmaceutical Co., Ltd (List Pharma), a national high-tech firm founded in 2002, is engaged in production, chemical synthesis of penicillin tablet, capsule and granule, and generic tablet, capsule, granule and injection, and extraction of Active Pharmaceutical Ingredients (API), and has built API, small-volume injection (including non-terminal sterilization), penicillin solid preparation, generic solid preparation and TCM extraction production lines. 

Penehyclidine Hydrochloride Injection (CHANGTUONING), a core brand-name drug of the Company, a class-I new drug developed by the Academy of Military Sciences and the world’s first-in-class selective anticholinergic drug, is mainly applied in preanesthetic medication for the purpose of inhibition of salivary gland and airway gland secretion and the treatment of organic phosphorus poisoning (pesticides). It has been included in the National Reimbursement Drug List (2019), National Essential Drug List (2018), National First-Aid (Emergency Treatment) Drug List and the Catalog of China’s Marketed Drugs. The product is introduced in Pharmacology and Clinical Anesthesiology, among other textbooks, and is recommended in Chinese expert consensus on diagnosis and treatment of acute poisoning, Chinese expert consensus on preanesthetic medication of anticholinergic drugs and Chinese expert consensus on use of penehyclidine hydrochloride in perioperative airway management, among others, for its extensive clinical application, and proven clinical efficacy, safety and economy. China records more than 60 million operations of inpatients per year, representing a CAGR of nearly 10% over five years, according to China Health and Family Planning Statistical Yearbook. Hence, Penehyclidine Hydrochloride Injection has a great market prospect in the country and is expected to deliver fast and enduring growth in the future.