Since the end of 2021, the biopharmaceutical industry has generally faced a slowdown in financing and cooperation, in addition, in the innovative drug track, the current homogenization of innovative drug research and development is more serious, coupled with the new medical reform environment background of tightening medical insurance control fees and centralized procurement and price reduction, in order to survive the cold winter, many pharmaceutical companies have "huddled together"
through mergers and acquisitions and restructuring in 2022.
For example, on September 26, Longshen Rong announced that it planned to purchase 70% of the shares of
Gansu Puan Pharmaceutical Co.
, Ltd.
(hereinafter referred to as "Puan Pharmaceutical") held by Gansu Pharmaceutical Group and Gansu Nongken Group for 326 million yuan in cash.
For this transaction, the company said that after the completion of the restructuring, the asset scale and business scale of the listed company have increased, and the total assets, net assets, operating income, and net profit attributable to the owners of the parent company will increase
significantly compared with before.
China Resources 39 announced on September 4 that the company intends to purchase 27.
56% of its shares in Kun Pharmaceutical Group from Holley Pharmaceutical by paying cash and 0.
44% of its shares
in Kun Pharmaceutical Group from Holley Group.
Upon completion of the transaction, CR Sanjiu will hold 28% of the shares of Kun Pharmaceutical Group, which will become a holding subsidiary
of CR Sanjiu.
CR Sanjiu said that the company and Kun Pharmaceutical Group are both engaged in pharmaceutical production and sales business, and this transaction will help both parties to exert synergies in the field of medicine and health, develop the industrial system around Sanqi resources, and promote the common development of
both parties.
On August 9, Duorui Pharmaceutical issued an announcement that the company signed the "Investment Intention Agreement" with Hubei Tianji Pharmaceutical Co.
, Ltd.
and Bozhou Tianji Pharmaceutical Co.
, Ltd.
, and the company intends to acquire 40% of the equity of Bozhou Tianji held by Hubei Tianji to accelerate the improvement of the company's traditional Chinese medicine industry layout and help further enhance the company's profitability
.
In addition to the above-mentioned pharmaceutical companies, this year, Huadong Pharmaceutical acquired 60% of the equity of Huaren Technology, and China Resources Shuanghe planned to purchase 50.
11% of the equity of Shenzhou Biotechnology
.
According to iFinD data, as of September 29, A-share listed pharmaceutical and biological companies have issued a total of 235 M&A announcements (excluding failed cases), and more than 70% of the announcements announced are horizontal mergers and acquisitions
.
The industry believes that through mergers and acquisitions, pharmaceutical companies can generally obtain more resource integration, expand and strengthen their advantageous industries or characteristic industries, and enhance their brand value, research and development capabilities, market scale and core competitiveness
.
It is worth mentioning that there were also many cases of termination of M&A of pharmaceutical companies during the year, including the failure of the two parties to reach an agreement on the core terms of the transaction plan, and the failure of the parties to complete contractual obligations such as asset divestiture and delivery of the target equity within the agreed time
.
For example, on the evening of November 1, Wanbangde disclosed that because the company and the counterparty of the major asset restructuring ultimately failed to reach an agreement on the core terms of the transaction plan, after friendly negotiation, the parties agreed to terminate the Share Transfer Intention Agreement
.
According to the previous transaction plan, Wanbangde intends to acquire a 29.
5% stake in Kangchen Pharmaceutical for 2.
183 billion yuan, with the aim of promoting the development of
traditional Chinese medicine health business.
On March 6, Laobai People's Pharmacy announced its decision to terminate the acquisition
of 51% of the shares of Hebei Huatuo Pharmacy Pharmaceutical Chain Co.
, Ltd.
The announcement pointed out that the termination of this transaction is related
to Hebei Huatuo Pharmacy's failure to complete the asset divestiture of the target company and the delivery of the target equity within the agreed time.
In general, the current pharmaceutical market environment has changed, large pharmaceutical companies are increasing their layout, and small and medium-sized enterprises are actively seeking ways to survive, making the phenomenon of "big fish eating small fish" frequent occurrence, and with the biomedical industry setting off a new round of mergers and acquisitions, the concentration will increase
.
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