Chinese sanpower group of private enterprises with the global bio pharmaceutical industry well-known enterprises in San Francisco Valeant reached an equity purchase agreement will be $819 million cash acquisition of the latter’s American company Dendreon Pharmaceuticals 100% stake in biological medicine. The acquisition also set a record for Chinese companies to buy u.s..
After the acquisition of
Dendreon, sanpower group will become the world’s first prostate cancer cells of immune therapy for Provenge owners, this is the first acquisition of the original drug China enterprises in the United states. According to a person close to the transaction of the insiders, sanpower group started with this project from the second half of 2016, after several rounds of negotiations, finally won the project. The transaction is scheduled to be completed in the first half of 2017.
2016 Provenge profit of $120 million, about 8 times the price earnings ratio (PE)." Sanpower group said in a statement that the acquisition of private enterprises to create a China price advantage to gain international leading Bio Medical Technology.
Valeant public information, Provenge is the only Dendreon a listed product, was approved by the U.S. Food and Drug Administration (FDA) approved in April 2010. It is the first prostate cancer immunotherapy approved by the FDA and is the only cellular immunotherapy for the treatment of advanced prostate cancer.
but Provenge does not belong to the core business of Valeant. Valeant said in a statement, as a new operation strategy can better integrate with the company to its product portfolio, Valeant will sell Provenge to sanpower group, the income will be used to repay the debt.
To identify and remove the tumor
anti tumor specific immune response in Provenge technology through specific excitation. The patients in the world for the first time systematically from the clinic to verify the immune system can effectively curb the tumor, prolong life, thus opening the door for immunity." In an e-mail interview with the new financial reporter, vice president of sanpower group introduced such expensive mccain.
he said that the acquisition of Dendreon, the sanpower take into the field of cell therapy, will occupy a space for one person in the world of precision medical field, but also sanpower expansion is an important part of the new health service. "The future will sanpower pension business, cord blood business and hospital business will have a good cooperative relationship."
addition, sanpower group also hope that through this acquisition, promote the development of domestic standard immunotherapy. Cell therapy is the future direction of cancer treatment, while China has not yet developed a standard, Hua Hua Kan said. At present, China’s cell therapy has not been approved,;