Viva Biotech to acquire an 80% stake in Langhua Pharmaceutical for $367m.

Viva Biotech, a drug discovery platform, agreed to acquire an 80% stake in Langhua Pharmaceutical, a pharmaceutical company, for $367m. "The strategic acquisition agreement we made with Langhua Pharmaceutical will effectively improve the integrated service capability in new drug R&D and overall competitiveness for both sides. We have steady confidence towards the business prospects and potential future growth of Langhua Pharmaceutical," Mao Chen Cheney, Viva Biotech Chairman and CEO.