BEIJING, May 24 (Xinhua) -- Shanghai-listed Nanjing Xinjiekou Department Store Co.,Ltd (600682.SH) announced on late Wednesday that its acquisition of Dendreon, a US-based biopharmaceutical company, has been given green light by the China Securities Regulatory Commission (CSRC).
This means that Provenge, the first cell immunotherapy drug approved by the Food and Drug Administration (FDA) in the United States, will be bagged by Nanjing Xinjiekou Department Store.
At the end of 2017, Nanjing Xinjiekou Department Store Co.,Ltd announced that it planned to acquire Dendreon from its controlling shareholder Sanpower Group with 5.968 billion yuan. Sanpower Group’s core product Provenge is currently the only cell immunotherapy drug for prostate cancer.
Dendreon is an American biopharmaceutical company that specializes in cell immunotherapy. After the acquisition, Nanjing Xinjiekou Department Store will become the first company listed in China's A-share market to have FDA-approved cell immunotherapy drugs. (Edited by Ma Xin, maxin11@xinhua.org)
A single purchase
