Jinhe Bio acquires world's largest producer of forage kimmycin

Jinhe Bio intends to spend a lot of money into the U.Sanimal health care products marketThe Company announced today that its controlling subsidiary, American Farmerway Pharmaceuticalco Co., Ltd., intends to acquire all of the assets associated with the production and operation of PENNFIELD OIL COMPANY (Panfield) in the United States for approximately $60 million, including plant, land, equipment, trademarks, patents, FDA-registered drug numbers, and existing inventory, and will continue to take on Panfield's market, customers, etc., to receive existing employeesgmb
According to the announcement, Panfield is an American animal health care products production enterprises, the main business for the production and sale of feed additives and water-soluble veterinary products, in the United States animal health care products market has a certain positionCurrently, Panfield has 16 new animal drug application numbers, generic animal drug application numbers (NADA and ANADA) and drug numbers that are still pending under the U.SFood and Drug Administration (FDA)In addition, it also owns 6 U.Spatents and 22 U.Sregistered trademarks, and has a number of patents in animal feed production processes, equipment, etcAudited financial statements for 2011-2013 showthat the Company's operating income for the three years was $448.898 million, $51.77 million and $51.0841 million, respectively, with net income of $8.3628 million, $4.251 million and $3.6683 million, respectivelygmb
This acquisition is of strategic importance to Jinhe BioJinhe Biological's main business to produce and sell forage jinmycin and animal health products mainly, is currently the world's largest production of goldmycin one of the largest enterprisesPrior to this transaction, the company conducted business in the U.S market as a supplier of raw materials for animal health products, and after the transaction, the company will have Panfield's production system and sales channels to gain access to the U.S animal health products end market platform gmb Jinhe Bio is intended to spend a lot of money into the U.S animal health products market The Company announced today that its controlling subsidiary, American Farmerway Pharmaceuticalco Co., Ltd., intends to acquire all of the assets associated with the production and operation of PENNFIELD OIL COMPANY (Panfield) in the United States for approximately $60 million, including plant, land, equipment, trademarks, patents, FDA-registered drug numbers, and existing inventory, and will continue to take on Panfield's market, customers, etc., to receive existing employees gmb
　　According to the announcement, Panfield is an American animal health care products production enterprises, the main business for the production and sale of feed additives and water-soluble veterinary products, in the United States animal health care products market has a certain position Currently, Panfield has 16 new animal drug application numbers, generic animal drug application numbers (NADA and ANADA) and drug numbers that are still pending under the U.S Food and Drug Administration (FDA) In addition, it also owns 6 U.S patents and 22 U.S registered trademarks, and has a number of patents in animal feed production processes, equipment, etc Audited financial statements for 2011-2013 showthat the Company's operating income for the three years was $448.898 million, $51.77 million and $51.0841 million, respectively, with net income of $8.3628 million, $4.251 million and $3.6683 million, respectively gmb
　　This acquisition is of strategic importance to Jinhe Bio Jinhe Biological's main business to produce and sell forage jinmycin and animal health products mainly, is currently the world's largest production of goldmycin one of the largest enterprises Prior to this transaction, the company conducted business in the U.S market as a supplier of raw materials for animal health products, and after the transaction, the company will have Panfield's production system and sales channels to gain access to the U.S animal health products end market platform gmb