Shanghai Pharmaceutical & Guangzhou Industrial Investment Fund acquired a 51.34% stake in their JV from Takeda for $280m.

Takeda Pharmaceutical agreed to sell its majority shareholding of 51.34% in Guangdong Techpool Bio-Pharma, a leader in the research, discovery and marketing of urinary protein biopharmaceuticals and production of biopharmaceuticals in critical care, for $280m. The shareholding is to be acquired in an all-cash, combined Stock Purchase Agreement by Takeda’s joint venture partner in Techpool: Shanghai Pharmaceutical Holding and Guangzhou Industrial Investment Fund Management. “This acquisition marks a strategic milestone for Shanghai Pharma in developing into a branded pharmaceutical manufacturer, and in building a first-class, domestic marketing organization,” commented Mr. Zhou Jun, Chairman of Shanghai Pharma. “We believe via acquisitions such as this, and our overall strategy, Shanghai Pharma has an important role to play in the China government’s ‘Healthy China’ policy.”