Simcere Pharmaceutical is increasing its stake in Chinese vaccines company Jiangsu Yanshen Biological Technology to over 50% through the acquisition of a 74.49% stake in Cayman Islands-based ChinaVax.
ChinaVax’ holds a 13.27% stake in Jiangsu Yanshen, which gained approval from Chinese regulatory authorities in September for its influenza H1N1 vaccine. The Chinese Government has ordered 6.3 million doses of the vaccine.
Simcere acquired its initial 37.5% stake in Jiangsu Yanshen in May. After completing its acquisition of ChinaVax, the company will own 50.77% of the vaccines business.
Simcere specializes in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China. Announcement of the proposed ChinaVax acquisition comes just a few days after it reported a new collaboration with OSI Pharmaceuticals to develop, manufacture, and market the latter’s early clinical-stage anticancer KDR/Kit inhibitor, OSI-930, in China.