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Viva Biotech inks share purchase agreement with Langhua Pharmaceutical

Viva Biotech inks share purchase agreement with Langhua Pharmaceutical
Viva Biotech inks share purchase agreement with Langhua Pharmaceutical

VivaBiotech Co. Ltd., a healthcare company headquartered in Shanghai, has reportedly inked a share purchase agreement to buy 80% of the equity interest in Zhejiang Langhua Pharmaceutical Co. Ltd. at a consideration of approximately USD 367 million. 

Sources cite that the synergy between Langhua Pharmaceutical and Viva Biotech in the areas of design, manufacturing, and R&D of the global pharmaceutical market will be brought about with this deal. It is of considerable strategic significance to the company to conduct Vertical incorporation and extension into Contract R&D and Production Organization (CDMO) business and develop a robust single-stop drug distribution network.

The purchase would enable Viva to gain a clear track record and credibility with a well-established CDMO platform, extend the range and geographical reach with client groups. CDMO will allow Viva to broaden current and potential client segments, improve the income stream efficiently, facilitate future growth market demand for portfolio businesses under the EFS model and extend the portfolio of possible incubation ventures, by wider end-to-end services.

Through attracting more high-level expertise and resources, Viva Biotech is continuing to improve and expand drug research, design, and manufacturing capacity, including the growth of its CMC capability and alignment with its current sector. 

Through offering more robust and high-quality services, Viva aims to boost the competitiveness of the market and gain a respectable position so that the industry picks Viva as the preferred provider for comprehensive outsourcing services, particularly for startup biotech companies and multi-national pharmaceutical firms.

The mission of Viva Biotech is to become the foundation of successful global biotechnology startups. The official press release highlights the company as the leading structure-based platform for drug development, supplying biotechnology and pharmaceutical customers around the world with structural drug discovery services in the pre-clinical stage through CFS model, funding and incubation services for high potential biotech startups through EFS model.

Source Credit - https://www.benzinga.com/pressreleases/20/08/n17003069/viva-biotech-and-langhua-pharmaceutical-reached-the-strategic-acquisition-agreement-accelerating-t

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Nandita holds a management degree with specialization in marketing, and boasts of a short-term experience in the field of recruitment. Following her passion for writing however, she decided to pursue a career in the field of content development. Presently, Nandita pens down news pieces for newsorigins.com, spanning the verticals of business, finance, and technology.