Press time:2021-07-07From:CR Pharma [Font:BigMediumSmall]
On July 7, China Resources Pharmaceutical Group Limited (Stock Code: 3320.HK) announced the company had received the approval letter dated 6 July 2021 issued by the State-owned Assets Supervision and Administration Commission of the State Council (the “SASAC”) (Guo Zi Chan Quan [2021] No. 301), pursuant to which, the SASAC, among other things, granted an approval in-principle for the transfer of 69,331,978 non-restricted tradable shares of Boya Bio-pharmaceutical Group Co., Ltd. and entrustment of voting rights to CR Pharmaceutical Holdings contemplated and the subscription of shares of Boya Bio-pharmaceutical as contemplated under the Proposed Transactions.
Boya Bio-pharmaceutical specializes in the research and development, production and sales of blood products. Its main products include blood products, diabetes drugs, biochemical drugs, and pharmaceutical distribution. It is one of the earliest companies in China that received the new GMP certification, and was listed on the SZSE ChiNext market in March 2012.
The proposed acquisition of a controlling stake in Boya Bio-pharmaceutical marks an important step for CR Pharmaceutical to enter the blood product market, reflecting its recognition of the value of Boya Bio-pharmaceutical’s blood product platform as well as an optimistic view of the blood product market in the future. CR Pharmaceutical expects to give full play to its advantages in resources and scale in building the blood business into a strong driver of the Group’s business growth, thereby creating more returns for shareholders.
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