AUSTRALIAN biotech firm CSL Limited has seen its shares jump to a record high after an announcement yesterday that it plans to acquire 80% of Chinese plasma therapies maker Wuhan Zhong Yuan Rui De Biological Products.
The US$352 million deal reflects the strength of the plasma products market in China which exceeded $3.3 billion in 2016 and has seen a 15% growth rate for the past five years and is also the fastest-growing immunoglobulin market in the world - and second only to the US in terms of volume.
The company said the transaction would provide CSL "with a strategic presence in the Chinese domestic plasma fractionation market and complements the leadership position that its CSL Behring business has built over the past 20 years as a provider of imported albumin in China".
CSL md Paul Perreault said improved physician awareness and recent changes to reimbursement coverage for plasma-derived products in China were expected to continue to drive strong demand, fulfilling a CSL promise to "save lives and protect the health of people around the world".
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