BMP Sunstone bids for Shengda
This article was originally published in The Tan Sheet
Executive Summary
BMP Sunstone, a U.S. firm operating in China, signed a non-binding letter of intent to purchase 75 percent of Chinese firm Zhangjiakou Shengda Pharmaceutical Co. for approximately $4.4 million, the firm says in a July 18 release. BMP Sunstone says the terms of the acquisition have not been finalized, but the firm expects to complete the acquisition by the end of the fourth quarter of 2008. The terms also includes a six-month exclusivity clause. The Plymouth Meeting, Pa.-based firm says Shengda's products will help expand and strengthen its Good Baby product line. "They fit nicely under our Good Baby brand and also complement our pediatrics franchise in both the OTC and Rx markets," BMP Sunstone President and COO Zhiqiang Han says in the release...
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