AstraZeneca buys a Chinese PharmaceuticalThursday, 08 December 2011
Pharmaceutical giant AstraZeneca buys Chinese Guangdong Beikang Pharmaceutical, a manufacturer of discount copies of generic drugs.
AdvertisementThe purchase price remains a mystery as no one in the company could say. The portfolio of drugs that AstraZeneca has access to is used against infectious diseases.
The Chinese pharmaceutical market is expected to grow tremendously in the coming years, from about 41 billion dollars in 2010 to 100 billion dollars in 2015, according to a press release from Astra Zeneca.
In related development, AstraZeneca PLC announced that on 7 December 2011, it purchased for cancellation 785,806 ordinary shares of AstraZeneca PLC at a price of 2920 pence per share.
Some of these shares were purchased under the terms of the previously announced irrevocable, non-discretionary share repurchase programme for the period 3 October 2011 to 16 December 2011.
Upon the cancellation of these shares, the number of shares in issue will be 1,299,277,172.
By Scancomark.se Team
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