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Recently, Jinling Pharmaceutical issued an announcement stating that the company deliberated and passed the "Proposal on Canceling Branches" at the 11th meeting of the 8th Board of Directors held on September 28
.
Agree to cancel Jinling Pharmaceutical Co.
, Ltd.
Nanjing Jinwei Health Products Branch (hereinafter referred to as "Jinwei Company"), and authorize the company's management to be responsible for the cancellation and other related matters
.
Regarding the cancellation of Jinwei Company this time, Jinling Pharmaceutical said that it is based on the overall strategic planning considerations, which will help further integrate the company's resources, improve the company's management efficiency, and reduce management costs
.
It is worth noting that this is not the first time that Jinling Pharmaceutical has cancelled a branch.
In recent years, Jinling Pharmaceutical has cancelled a number of companies in order to integrate and optimize the allocation of existing resources
.
On March 30, 2020, Jinling Pharmaceutical issued an announcement stating that the 20th meeting of the seventh board of directors of the company reviewed and approved the “Regarding the liquidation and cancellation of the company’s wholly-owned subsidiary Jinling Pharmaceutical Nanjing Color Plastic Packaging Co.
, Ltd.
The Motion
.
It is agreed that Jiangsu Jinling Marine Pharmaceutical Co.
, Ltd.
(hereinafter referred to as "Jinling Marine") shall terminate its business activities and liquidate and cancel it in accordance with the requirements of relevant laws and regulations
.
Regarding the reason for the cancellation of the liquidation, it clearly stated that it is to reduce the company's management costs, fully integrate and optimize the existing resource allocation, and improve the company's overall operating efficiency
.
On December 6, 2019, Jinling Pharmaceutical issued an announcement stating that it agreed to its subsidiary Zhejiang Jinling Medicinal Material Development Co.
, Ltd.
("Zhejiang Jinling") to terminate its business activities and liquidate and cancel it in accordance with the requirements of relevant laws and regulations
.
It is worth mentioning that for the reason for the cancellation, Jinling Pharmaceutical also stated that due to the increasing competition in the pharmaceutical market, the business of Zhejiang Jinling continues to shrink.
In order to reduce the company’s management costs, fully integrate and optimize the existing resource allocation, and improve the company’s overall Decisions made by operational efficiency
.
Industry analysts believe that behind Jinling Pharmaceutical’s frequent subtraction, it is actually inseparable from the impact of the national policy to encourage the development of innovative drugs, the consistency evaluation of generic drugs, and the large-scale procurement of pharmaceuticals.
.
In fact, when the competition in the pharmaceutical industry is becoming increasingly fierce due to consistency evaluation and volume procurement, and the profit of pharmaceutical companies is under obvious pressure, a large number of pharmaceutical companies are accelerating reform efforts by selling shares, subsidiaries, and divesting core businesses.
Development
.
According to incomplete statistics, since the beginning of this year, at least 20 domestic pharmaceutical companies have announced the sale of shares, subsidiaries, and divestiture of core businesses, including Fosun Pharma, Zhendong Pharmaceutical, and Beike Biotech
.
Specifically, a recent asset sale announcement issued by Shanghai Fosun Pharmaceutical (Group) Co.
, Ltd.
showed that: Fosun Pharmaceutical, Tianjin Jinyao Group Co.
, Ltd.
and Tianjin Pharmaceutical Group Co.
, Ltd.
have jointly signed an "Equity Transfer Agreement.
" , Intends to transfer the 25.
0011% equity of Tianjin Pharmaceutical Group Co.
, Ltd.
held by Tianjin Jinyao.
The total price of the transfer is RMB 1,432,563,300
.
The industry predicts that in the future, in order to make the corporate strategy more focused, or more and more companies will sell their assets that are not in line with their own strategic development, so as to focus on the company's main business development
.
At the same time, as more and more pharmaceutical companies accelerate their "weight reduction", it will also help further increase the concentration of the pharmaceutical industry
.
.
Agree to cancel Jinling Pharmaceutical Co.
, Ltd.
Nanjing Jinwei Health Products Branch (hereinafter referred to as "Jinwei Company"), and authorize the company's management to be responsible for the cancellation and other related matters
.
Regarding the cancellation of Jinwei Company this time, Jinling Pharmaceutical said that it is based on the overall strategic planning considerations, which will help further integrate the company's resources, improve the company's management efficiency, and reduce management costs
.
It is worth noting that this is not the first time that Jinling Pharmaceutical has cancelled a branch.
In recent years, Jinling Pharmaceutical has cancelled a number of companies in order to integrate and optimize the allocation of existing resources
.
On March 30, 2020, Jinling Pharmaceutical issued an announcement stating that the 20th meeting of the seventh board of directors of the company reviewed and approved the “Regarding the liquidation and cancellation of the company’s wholly-owned subsidiary Jinling Pharmaceutical Nanjing Color Plastic Packaging Co.
, Ltd.
The Motion
.
It is agreed that Jiangsu Jinling Marine Pharmaceutical Co.
, Ltd.
(hereinafter referred to as "Jinling Marine") shall terminate its business activities and liquidate and cancel it in accordance with the requirements of relevant laws and regulations
.
Regarding the reason for the cancellation of the liquidation, it clearly stated that it is to reduce the company's management costs, fully integrate and optimize the existing resource allocation, and improve the company's overall operating efficiency
.
On December 6, 2019, Jinling Pharmaceutical issued an announcement stating that it agreed to its subsidiary Zhejiang Jinling Medicinal Material Development Co.
, Ltd.
("Zhejiang Jinling") to terminate its business activities and liquidate and cancel it in accordance with the requirements of relevant laws and regulations
.
It is worth mentioning that for the reason for the cancellation, Jinling Pharmaceutical also stated that due to the increasing competition in the pharmaceutical market, the business of Zhejiang Jinling continues to shrink.
In order to reduce the company’s management costs, fully integrate and optimize the existing resource allocation, and improve the company’s overall Decisions made by operational efficiency
.
Industry analysts believe that behind Jinling Pharmaceutical’s frequent subtraction, it is actually inseparable from the impact of the national policy to encourage the development of innovative drugs, the consistency evaluation of generic drugs, and the large-scale procurement of pharmaceuticals.
.
In fact, when the competition in the pharmaceutical industry is becoming increasingly fierce due to consistency evaluation and volume procurement, and the profit of pharmaceutical companies is under obvious pressure, a large number of pharmaceutical companies are accelerating reform efforts by selling shares, subsidiaries, and divesting core businesses.
Development
.
According to incomplete statistics, since the beginning of this year, at least 20 domestic pharmaceutical companies have announced the sale of shares, subsidiaries, and divestiture of core businesses, including Fosun Pharma, Zhendong Pharmaceutical, and Beike Biotech
.
Specifically, a recent asset sale announcement issued by Shanghai Fosun Pharmaceutical (Group) Co.
, Ltd.
showed that: Fosun Pharmaceutical, Tianjin Jinyao Group Co.
, Ltd.
and Tianjin Pharmaceutical Group Co.
, Ltd.
have jointly signed an "Equity Transfer Agreement.
" , Intends to transfer the 25.
0011% equity of Tianjin Pharmaceutical Group Co.
, Ltd.
held by Tianjin Jinyao.
The total price of the transfer is RMB 1,432,563,300
.
The industry predicts that in the future, in order to make the corporate strategy more focused, or more and more companies will sell their assets that are not in line with their own strategic development, so as to focus on the company's main business development
.
At the same time, as more and more pharmaceutical companies accelerate their "weight reduction", it will also help further increase the concentration of the pharmaceutical industry
.
