Fosun Group and Shanghai Pharma place interest in Arbor Pharmaceuticals
Fosun Group and Shanghai Pharmaceuticals have recently stated their interest in bidding for a stake in US company Arbor Pharmaceuticals.
One of the largest pharmaceutical group’s in China, Fosun Group focuses on the production of new medicines which are exported worldwide, whilst utilising exceptional technologies within its research and development facilities. In a stock exchange filing, it has been revealed that the company’s potential stake in Arbor has been financially backed by private equity firm KKR & Co LP, according to Reuters.
On the same day, Shanghai Pharma also placed its bid. Dually listed on the stock exchange in Shanghai and Hong Kong, the company has retained its position as a leader within manufacturing and distribution of chemical and bio-pharmaceutical products within China, and has partnered with a number of universities across the country.
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Both companies are looking at acquiring a 20-30% stake in Arbor, according to those who are familiar with the deal. The company has also bought Bank of American Merrill Lynch on board to help ensure any potential sale goes smoothly.
Arbor Pharmaceuticals markets prescription products for “cardiovascular, hospital, neuroscience and paediatric markets,” supplying prescription drugs such as edarbi, cetylev, horizant and evekeo.