CHINAUS AFRICAASIA 中文双语Français
World\Europe

China's Sanpower Group says it completes acquisition of Dendreon from Valeant

By Chris Peterson in London | chinadaily.com.cn | Updated: 2017-07-02 23:50

Sanpower Group, a Chinese private conglomerate, said it had completed its 100 percent acquisition of Dendreon from US-based Valeant Pharmaceuticals International, for a total of $819.9 million in cash. Dendreon's core product, Provenge, is the only US FDA-approved cellular immunotherapy treatment for prostate cancer.

It is the first time a Chinese company has acquired an example of US-made biotechnology.

Provenge has been used to treat more than 20,000 patients since its entry to the US market in 2010.

Sanpower Group said in a statement it intends to maintain the continuity of Dendreon's US research team, and continue company growth. It said it plans to promote Provenge outside the US, starting with China and Southeast Asia.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US