HEC Pharmaceutical Will Acquire HEC Biologics for Nearly 80 Million Yuan

On September 13, HEC Technology announced that its subsidiary HEC Pharmaceutical (HEC Pharm) planned to acquired HEC Biologics with an evaluating price of 78.1612 million yuan. After this acquisition, HEC Biologics will become a wholly-owned subsidiary of HEC Pharmaceutical.

Established in February 2017, HEC Biologics is still in the construction stage and has not been put into operation. It had undertaken HEC Pharmaceutical’s biological medicine headquarters construction projects, including the construction of biological agents production base, and solid preparation development and production base. 

The production base of biological agents will produce microbial fermented products (such as liraglutide, tresiba, enterokinase) and animal cell fermented products (such as adalimumab, bevacizumab, nivolumab,trulicity). The solid preparation development and production base will produce five kinds of drugs (including anti-infection drugs, cardiovascular drugs, metabolic drugs, nervous system drugs, and immunotherapy drugs) and carry out the research and development of anti-infection drugs and anti-tumor drugs.

For HEC Technology, this transaction is based on the demand for future business production and operation, which is beneficial to further expand the capacity of HEC Pharmaceutical and make sure of the listing and great sales of follow-up reserve products. 

Founded in 2002, HEC Pharmaceutical has four subsidiaries based in Yichang and Guangdong. After more than ten years of development, HEC Pharmaceutical has become a pharmaceutical company with independent innovation ability and great prospects.

In the second half of the year, HEC Pharmaceutical will continue to promote R&D innovation and enrich product portfolio, improve management ability to produce high-quality products, and expand the coverage of medical institutions at all levels to ensure the long-term stable development.