Pharma acquisition news : Hong Kong King-Friend Industrial Company, a subsidiary of Chinese manufacturer Nanjing King-Friend Biochemical Pharmaceutical Company (NKF), has agreed to increase its stake in US generic injectables company Meitheal Pharmaceuticals for $95 million.
Following the completion of the transaction, which is likely to be in Q4 2019, NKF will have a majority stake in the Illinois-based Meitheal Pharmaceuticals.
Tom Shea – founding CEO of Meitheal Pharmaceuticals said: “We are excited to have found a strong growth partner in a world-class manufacturer like NKF.
“Our aim at Meitheal is not only to produce high quality generic injectables, but also to safeguard affordability and access to them. Meitheal’s role as NKF’s exclusive commercialization arm in the US, coupled with NKF’s full-scale manufacturing capabilities and reliable supply of active pharmaceutical ingredients, will enable and empower us to meet patients’ needs in parallel with our business development goals.”
Meitheal Pharmaceuticals mainly specializes in the development, manufacture, procurement, and sale of generic injectable pharmaceuticals, with a dozen FDA-approved products for anti-infective, oncolytic and intensive care.
Furthermore, the US generic injectables company is said to have an expanding product portfolio and robust pipeline, which includes single and multi-dose vials, ready-to-use prefilled syringes and premixed bags.
Meitheal Pharmaceuticals, as of the end of June 2019, had 49 products in the research and development phase, 24 products which are being reviewed by the US Food and Drug Administration (FDA), and eight products set to be launched in 2019.
Eric Tang – CEO of NKF said: “This partnership highlights the strengths that link NKF and Meitheal, and reinforces our ability to serve patients around the world. NKF is well positioned to leverage our robust manufacturing capabilities in support of Meitheal’s increased presence in the US healthcare market. Together, we can better meet patients’ needs for consistent supply of vital generics.”
NKF is mainly engaged in the research and development, production and sales of active pharmaceutical ingredients (API) and finished dosage form (FDF).
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