3SBio in $290 mln deal for unit of Catalyst-owned Therapure: Reuters
China’s 3SBio Inc has agreed to buy the contract development and manufacturing unit of Canada’s Therapure Biopharma Inc for US$290 million, part of a push by the Chinese biotech company into the North American market, Reuters reported. The deal, being done through a venture set up by 3SBio and CITIC Private Equity investment, fits with a push by Chinese drug-makers and biopharmaceutical companies to increase their role in the global market. The acquired unit will continue to operate under the Therapure brand and be led by Therapure’s current CEO, Nick Green. Mississauga, Ontario's Therapure was launched in 2008 by Canadian private equity firm Catalyst Capital Group. Catalyst will retain ownership of Therapure’s plasma protein and therapeutic products business as a separate entity.
