Date
16 December 2017

Guangzhou Pharma eyes multiple acquisitions, paper says

Guangzhou Pharmaceutical Holdings Ltd. (600332.CN) said on Wednesday that it will seek multiple acquisitions of drug makers that have superior products, resources or geographical advantages, Shanghai Securities News reported Thursday. The company is looking to acquire up to 30 firms, hoping the move will help it achieve sales of more than 100 billion yuan (US$16.32 billion) in three years, the report said. The sales goal for the current year is 65 billion yuan. A group executive, Wang Wenchu, was quoted as saying that acquisition opportunities will arise as drug makers will be required to secure new good manufacturing practice (GMP) certification in the near term.

– Contact HKEJ [email protected]

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