China Biopharmaceuticals
China Biopharmaceuticals is a vertically integrated pharmaceutical company dedicated to the discovery, development, manufacturing and marketing of small and large molecule pharmaceutical products, including medicines, vaccines, and active pharmaceutical ingredients for various categories of diseases.
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China Biopharmaceuticals Shareholders Approve Merger With NeoStem
China Biopharmaceuticals Holdings Inc (OTC: CHBP) announced that its shareholders have approved the merger with NeoStem Inc (AMEX: NBS) at a special meeting held today. The acquisition will add significant potential benefits to the growth prospects of China Biopharmaceutical’s subsidiary, Suzhou Erye Pharmaceuticals Company Ltd.
NeoStem is developing a network of adult stem cell collection
centers that are focused on enabling people to donate and store their
own stem cells when they are young and healthy for their personal use
in times of future medical need.
China Biopharmaceuticals Holdings is a US-listed company with
operating subsidiaries and senior management based in China. The
company manufactures and markets both small and large molecule
pharmaceutical products, including medicines, vaccines, and active
pharmaceutical ingredients for various categories of diseases.
The merger will expand the business potential and drug
development opportunities with the addition of NeoStem's innovative
Stem Cell therapy treatments. The expanded channels of development and
distribution should boost the company's portfolio of more than 100
drugs on seven GMP (Good Manufacturing Practice) lines, while
benefiting distribution channels globally.
Erye Pharmaceuticals General Manager, Madame Zhang commented on the deal:
"This merger will allow us to expand the business potential of
Eyre's substantial lines of drugs, especially our proprietary small
molecule drugs, and distribute them throughout China, realizing what we
anticipate will be tremendous market potential.”
