STADA acquires majority interest in Chinese pharmaceuticals company BCP
STADA Arzneimittel AG has acquired a 58% stake in the Chinese pharmaceuticals manufacturing company Beijing Center-Lab Pharmaceutical Company Ltd. (BCP) and its related distribution activities via its subsidiary STADA Pharmaceuticals (Asia) Ltd., Hong Kong. The seller, Center International Group Ltd., British Virgin Islands, sold the stake for a purchase price of EUR 3.5 million and will continue to be involved in BCP as a minority shareholder.
BCP has been active in the Chinese market since 2002, achieving sales equivalent to approx. EUR 2.5 million in 2004. BCP distributes a portfolio containing 10 branded products in the OTC market, for which purpose it maintains a sales force of approx. 80 employees in various metropolitan areas in China. The products are manufactured on the basis of the company's own approvals in its own production facilities in Beijing. BCP has approx. 180 employees in total at present.
STADA has strengthened the Group's Chinese activities via this acquisition, given that companies with production facilities in China benefit from existing market regulations. Both of STADA's other Group companies, STADA Pharmaceuticals (Asia) Ltd. (wholly-owned by STADA, annual sales of EUR 3.8 million in 2004) and Health Vision Enterprise Ltd. (51% of which is owned by STADA, annual sales of EUR 8.3 million in 2004, consolidated at 50% in the Group accounts), which have been active in China in a sales capacity only for a number of years, will cooperate closely with BCP in order to take advantage of these benefits.
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