Temasek Invests in Yichang Hec Changjiang Pharmaceutical
Singapore’s Temasek Holdings has invested in a Chinese pharmaceutical company that manufactures an anti-flu product, among other drugs. Through a series of subsidiaries, Bartley Investments Pte. Ltd., a sovereign wealth enterprise (SWE) of Temasek Holdings, purchased 15.1 million H shares in Yichang Hec Changjiang Pharmaceutical Company Limited. This transaction was recorded on April 27, 2017. The average price per share was HK$ 16.30.
Yichang Hec Changjiang Pharmaceutical was formed in August 2001. The company focuses on the development, manufacturing and sale of pharmaceutical products in the therapeutic areas of anti-virus, endocrine and metabolic diseases and cardiovascular diseases. According to the company, Kewei (oseltamivir phosphate) is the #1 selling influenza drug in China from 2013 to 2016.
On March 27, 2017, Taiwan-based TaiGen Biopharmaceuticals Co. (Beijing), Ltd., a unit of TaiGen Biotechnology, sold its 9% equity stake in Dongguan HEC TaiGen Biopharmaceuticals Co., Ltd. to Yichang Hec Changjiang Pharmaceutical. Dongguan HEC TaiGen Biopharmaceuticals is a joint venture between Yichang Hec Changjiang Pharmaceutical and TaiGen Biopharmaceuticals Co. (Beijing), Ltd.
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