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Diabetes crisis instigates advice on APAC ‘friendly’ takeover
Thomson Geer has advised China’s Yifan Pharmaceutical Co on its friendly takeover of the Singapore-based biopharmaceutical company SciGen, which is listed on the Australian Securities Exchange.
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Firm: Thomson Geer (SciGen and Yifan)
Value: $28 million
Area: M&A, Corporate
Key players: Thomson Geer’s team was led by partner Tim Flahvin and senior associate Venks Ananthakrishnan.
Deal significance: Established in 1988, SciGen focuses on endocrinology, gastroenterology and immunology. It is also a human insulin producer.
Yifan is seeking to enhance its research and production capacity of insulin products. Its purchase of SciGen gives it access to a portfolio of products, inclusive of insulin. The takeover will also provide it access to a well-established sales network that covers more than 20 countries and regions, especially within the APAC region.
According to the Journal of the American Medical Association, diabetes is emerging as a national health crisis for China. It has reported that half of the country’s population has diabetes or is pre-diabetic.
The Yifan takeover of SciGen was effected with co-operation from SciGen’s controlling shareholder, Warsaw Stock Exchange-listed company Bioton.