China pharma M&A heats up with Luye deal

Luye Pharma Group has agreed to buy a subsidiary of Swiss counterpart Acino, becoming the latest Chinese healthcare company to look overseas for expansion.

China pharma M&A heats up with Luye deal

Luye Pharma Group has agreed to buy a subsidiary of Swiss counterpart Acino, becoming the latest Chinese healthcare company to look overseas for expansion.

Luye Pharma, backed by Singapore’s sovereign wealth fund GIC, is buying a branch of Acino that makes transdermal drug delivery systems TDS, or patches. The 245 million $270 million acquisition means Luye is about to control one of the largest TDS manufacturers in Europe.

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