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On the evening of November 23, CRO giant Jiuzhou Pharmaceutical announced that it intends to acquire 100% of the equity of Taihua Hangzhou held by Taihua Investment at an estimated transaction price of US$34 million (approximately RMB 217 million), which is related to internationalization.
The management team will also be taken over by Jiuzhou Pharmaceutical
.
According to the data, Taihua Hangzhou is an API manufacturing factory invested by the large international pharmaceutical company Teva Group in China, and it is mainly responsible for supplying Teva Group with products required for its business
.
The factory is located in Qiantang New District, Hangzhou, covering an area of 115 acres and currently employs about 210 people.
The management team has more than 10 years of industry experience
.
Financial data shows that Taihua Hangzhou is still at a loss
.
Data show that in 2020 and the first half of 2021, Taihua Hangzhou achieved operating income of 87,575,100 yuan and 45,325,700 yuan, and net profit of -30.
786 million yuan and -15.
289 million yuan
.
As of the end of June this year, Taihua Hangzhou's total assets and net assets were 265 million yuan and 251 million yuan respectively
.
However, Jiuzhou Pharmaceutical is optimistic about Taihua Hangzhou’s ability in production management mode, quality control system guarantee, and green innovation technology.
After the completion of this transaction, the target company will use an international management team, a sound legal system, and more A high-efficiency production line and expandable additional capacity space to undertake CDMO business for domestic and foreign customers
.
Jiuzhou Pharmaceutical believes that the acquisition will help improve its overall operation management and multi-regional production capacity layout, and then continue to promote the development of CDMO business and strengthen cooperation with domestic and foreign customers
.
After the completion of this transaction, Jiuzhou Pharmaceutical will hold 100% equity of Taihua Hangzhou and provide customized production services for Teva Group as agreed in the agreement
.
It is understood that Jiuzhou Pharmaceutical has continued to deepen the small molecule CDMO market since 2008, and acquired the Suzhou Novartis factory in 2019.
The merger was successfully completed in December 2019, and the Suzhou Novartis factory was merged into the "Ribo" brand.
, Changed its name to Ruibo (Suzhou) Pharmaceutical
.
Judging from the situation after Jiuzhou Pharmaceuticals acquired the Suzhou Novartis plant to bind Novartis’ major customers, the company's orders have increased significantly, and the performance growth is deterministic
.
The 2020 annual report shows that the company's CDMO business achieved revenue of 1.
293 billion yuan, a year-on-year increase of 71%, and realized gross profit of 535 million yuan, a year-on-year increase of 66%, showing explosive growth
.
In the first three quarters of this year, Jiuzhou Pharmaceutical benefited from the CDMO business and achieved a new high.
During the reporting period, the company achieved operating income of 3.
004 billion yuan, a year-on-year increase of 72.
08%; net profit was 473 million yuan, a year-on-year increase of 97.
65%
.
Taihua Hangzhou is another international high-end production capacity acquired by Jiuzhou Pharmaceutical after Novartis's Suzhou plant.
It is expected to help the company increase its international influence.
While expanding the company's production capacity, it will promote the company's CDMO production capacity to a higher level
.
The industry predicts that the company's future proportion of CDMO business is expected to continue to grow
.
According to reports, the current CDMO production bases of Jiuzhou Pharmaceutical are mainly Ruibo Suzhou, Zhejiang Ruibo and Ruibo Taizhou
.
Among them, Ruibo Suzhou has started the construction of the pilot plant, which is expected to be completed and put into use in 2022, and the construction of the other two commercial workshops is expected to start in 2022; Zhejiang Ruibo has significantly improved operational efficiency and further released production capacity through modularization and automation transformation.
In addition, the production capacity of generic APIs in some workshops is gradually shifted to further release production capacity to CDMO business; Ruibo Taizhou purchased 287 acres of land and is expected to build 4 workshops in 2023 and put them into use in early 2024
.
The management team will also be taken over by Jiuzhou Pharmaceutical
.
According to the data, Taihua Hangzhou is an API manufacturing factory invested by the large international pharmaceutical company Teva Group in China, and it is mainly responsible for supplying Teva Group with products required for its business
.
The factory is located in Qiantang New District, Hangzhou, covering an area of 115 acres and currently employs about 210 people.
The management team has more than 10 years of industry experience
.
Financial data shows that Taihua Hangzhou is still at a loss
.
Data show that in 2020 and the first half of 2021, Taihua Hangzhou achieved operating income of 87,575,100 yuan and 45,325,700 yuan, and net profit of -30.
786 million yuan and -15.
289 million yuan
.
As of the end of June this year, Taihua Hangzhou's total assets and net assets were 265 million yuan and 251 million yuan respectively
.
However, Jiuzhou Pharmaceutical is optimistic about Taihua Hangzhou’s ability in production management mode, quality control system guarantee, and green innovation technology.
After the completion of this transaction, the target company will use an international management team, a sound legal system, and more A high-efficiency production line and expandable additional capacity space to undertake CDMO business for domestic and foreign customers
.
Jiuzhou Pharmaceutical believes that the acquisition will help improve its overall operation management and multi-regional production capacity layout, and then continue to promote the development of CDMO business and strengthen cooperation with domestic and foreign customers
.
After the completion of this transaction, Jiuzhou Pharmaceutical will hold 100% equity of Taihua Hangzhou and provide customized production services for Teva Group as agreed in the agreement
.
It is understood that Jiuzhou Pharmaceutical has continued to deepen the small molecule CDMO market since 2008, and acquired the Suzhou Novartis factory in 2019.
The merger was successfully completed in December 2019, and the Suzhou Novartis factory was merged into the "Ribo" brand.
, Changed its name to Ruibo (Suzhou) Pharmaceutical
.
Judging from the situation after Jiuzhou Pharmaceuticals acquired the Suzhou Novartis plant to bind Novartis’ major customers, the company's orders have increased significantly, and the performance growth is deterministic
.
The 2020 annual report shows that the company's CDMO business achieved revenue of 1.
293 billion yuan, a year-on-year increase of 71%, and realized gross profit of 535 million yuan, a year-on-year increase of 66%, showing explosive growth
.
In the first three quarters of this year, Jiuzhou Pharmaceutical benefited from the CDMO business and achieved a new high.
During the reporting period, the company achieved operating income of 3.
004 billion yuan, a year-on-year increase of 72.
08%; net profit was 473 million yuan, a year-on-year increase of 97.
65%
.
Taihua Hangzhou is another international high-end production capacity acquired by Jiuzhou Pharmaceutical after Novartis's Suzhou plant.
It is expected to help the company increase its international influence.
While expanding the company's production capacity, it will promote the company's CDMO production capacity to a higher level
.
The industry predicts that the company's future proportion of CDMO business is expected to continue to grow
.
According to reports, the current CDMO production bases of Jiuzhou Pharmaceutical are mainly Ruibo Suzhou, Zhejiang Ruibo and Ruibo Taizhou
.
Among them, Ruibo Suzhou has started the construction of the pilot plant, which is expected to be completed and put into use in 2022, and the construction of the other two commercial workshops is expected to start in 2022; Zhejiang Ruibo has significantly improved operational efficiency and further released production capacity through modularization and automation transformation.
In addition, the production capacity of generic APIs in some workshops is gradually shifted to further release production capacity to CDMO business; Ruibo Taizhou purchased 287 acres of land and is expected to build 4 workshops in 2023 and put them into use in early 2024
.
