|CSL Limited (ASX:CSL; USOTC:CSLLY) today announced that it has closed a joint venture transaction with Humanwell Healthcare Group Co. Ltd. (Humanwell; Shanghai exchange: 600079) to acquire a majority stake in plasma-derived therapies manufacturer Wuhan Zhong Yuan Rui De Biological Products Co. Ltd. (Ruide).|
As previously announced to the Australian Securities Exchange on 13 June 2017, CSL has acquired 80 per cent equity in the Ruide business for US$352 million, with Humanwell retaining a 20 per cent share.
CSL has now taken operational responsibility for the Ruide business.
The acquisition provides 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.
About Humanwell & Ruide: Humanwell is a fully integrated healthcare solution provider in China, with growing presence in Southeast Asia, North America and Africa. It is publically traded on the Shanghai Stock Exchange with revenues in excess of US$1.7 billion in 2016, and ranked in the top 30 pharmaceutical companies in China.
Ruide, a subsidiary of Humanwell, was founded in 1995. It is focussed on the development, manufacture and commercialisation of plasma derived products for the Chinese domestic market. Ruide operates a manufacturing facility in Hubei Province, Wuhan as well as four plasma collection centres, and has six products approved in China.
About CSL: CSL is a leading global biotechnology company with a dynamic portfolio of life-saving medicines, including those that treat haemophilia and immune deficiencies, as well as vaccines to prevent influenza. Since our start in 1916, we have been driven by our promise to save lives using the latest technologies. Today, CSL – including our businesses, CSL Behring and Seqirus – provides life-saving products to more than 60 countries and employs nearly 20,000 people. Our unique combination of commercial strength, R&D focus and operational excellence enables us to identify, develop and deliver innovations so our patients can live life to the fullest.