GL Capital to acquire SciClone Pharmaceuticals for HKD8.79 bn.

GL Capital, an investment firm focusing on buyouts and minority investments in the healthcare industry, agreed to acquire SciClone Pharmaceuticals, a US-based and China-focused specialty pharmaceutical company, for HKD8.79 bn. Following the implementation of the proposal, SciClone is expected to substantially reduce its administrative and management resources needed in maintaining its listing status. Thanks to this GL Capital will be able to manage acquired company with a focus on its strategic direction and business operations.