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Nycomed to Accelerate Expansion in China Through Acquisition of Majority Stake in Guangdong Techpool Bio-Pharma
Date:11/1/2010

comed China and Techpool will be run as separate companies, value will be created through various forms of alliances between the two entities. The two companies will continue to expand their footprint in China and will focus their efforts around five core brands: Ulinastatin, Kallikrein, Pantoloc®, Ebrantil® and Actovegin®.

Hakan Bjorklund, CEO of Nycomed, said: "The acquisition of the majority stake in Techpool provides us with a unique opportunity to strengthen our business in China, one of the world's fastest-growing pharmaceutical markets. Techpool's specialty franchise is highly complementary to Nycomed's development strategy and will become a cornerstone of our international expansion in emerging markets."

"This is a great opportunity for Nycomed and Techpool to build a strong player in the area of pharmaceuticals and biologics in China. Techpool's capabilities across the entire value chain were developed under the leadership of a formidable management team, headed by the founder and CEO Dr. Fu. This team will play a pivotal role for Nycomed's future expansion in China and the strong support of Techpool's existing shareholders, in particular Shanghai Pharmaceutical, makes us even more optimistic about our prospects in this exciting market," added Guido Oelkers, Executive Vice President, Commercial Operations at Nycomed.

Commenting on today's announcement, Liew Yew Looi, Senior Vice President for Nycomed North Asia, said: "The partnership with Techpool will significantly accelerate our aim of becoming a leading player in the North Asian market including China. My team at Nycomed and I look forward to working closely with Dr. Fu and his organisation to achieve this goal."

Further details of the agreement were not disclosed.

About Techpool Bio-Pharma Co., Ltd.

Techpool Bio-Pharma Co., Ltd. (Techpool), founded in 1993 and headquartered in Guangzhou Tianhe Gaotang Science and Industrial Park, is a high-tec
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SOURCE Nycomed
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