Beijing Konruns Pharmaceutical is looking to capitalise on China's domestic innovation push by preparing an initial public offering to secure funding to develop new product lines for the country’s expanding drugs market.
A source familiar with the situation told FinanceAsia the proprietary drug maker is seeking to raise between $200 million to $300 million from the Hong Kong IPO primarily to finance research and development of new drugs.
Be fruitful and multiply
And indeed, industry experts believe it is essential for small- and mid-sized drugmakers to maintain a healthy pipeline of new products. The absence of new product launches would be a drag...