BEIJING, March 1 (Xinhua) -- Pharmaron (300759.SZ) announced on Monday to buy a 100-percent stake held by AGN Sundry LLC in the Allergan Biologics Limited (ABL) for about 120 million U.S. dollars.
The Shenzhen-listed company will use its own funds to increase the capital of its wholly-owned subsidiary Pharmaron (Hong Kong) International Limited. It will buy the 100-percent equity of the ABL through the Pharmaron Biologics (UK) Holdings Limited, a wholly-owned subsidiary of the Hong Kong-based company.
After completion of the transaction, the listed company will hold a 100-percent stake in the ABL through the Pharmaron Biologics (UK) Holdings Limited.
The transaction is expected to close in the second quarter of 2021, subject to the satisfaction of customary closing conditions, according to the Shenzhen-listed company on its official website.
The ABL consists of a state-of-the-art, flexible cGMP biomanufacturing facility located in Liverpool, United Kingdom with over 150 staff.
Founded in 2004, Pharmaron is a cutting-edge, fully integrated pharmaceutical R&D service platform supporting the life science industry. With operations in China, the U.S. and the UK staffed by more than 11,000 employees, Pharmaron has an excellent track record in delivering end-to-end R&D solutions to its partners globally and enabling them to accelerate their novel drug discovery and development process, according to its official website. (Edited by Hu Pingchao with Xinhua Silk Road, firstname.lastname@example.org)