China News Service, Beijing, March 30th (Wang Qingkai) China Ping An Insurance (Group) Co., Ltd. (hereinafter referred to as Ping An) announced on the 30th that it has reached an agreement with Japan's Shiinoi Pharmaceutical Co., Ltd. (hereinafter, Shiinoi Pharmaceutical) Strategic cooperation agreement. Shiinoi Pharmaceutical will sell 6.356 million treasury shares to Ping An Life Insurance Co., Ltd., with a total transaction value of 33.53 billion yen (approximately 2.18 billion yuan).
It is reported that after the transaction was completed, Ping An Life held a total of 2% of Yanye Yi Pharmaceutical and became the seventh largest shareholder of Yan Yeyi Pharmaceutical. Founded in 1878, Yoshino Pharmaceutical has a wealth of experience in drug development, production, and sales, and is a leader in the Japanese pharmaceutical industry. Its anti-infection, central nervous system disease and other related drugs have a high influence.
At the same time, the two sides discussed the establishment of a joint venture in Hong Kong, China. The joint venture plans to focus on new drug therapies for the central nervous system in the early stage, and will obtain the exclusive agency rights of two new drugs under Shiinoi Pharmaceutical in Asia (except Japan). The joint venture company will also carry out many aspects of new drug research and development, manufacturing and sales.
Ping An of China said that in the face of sudden outbreaks and increasing ageing, social medical needs continue to increase, and drug innovation research and development is still an important issue. Shiono Yoshi Pharmaceutical has extensive experience in drug development and manufacturing. This cooperation will give full play to the advantages of both parties, improve new drug research and development models and technologies, build AI-based drug manufacturing and quality management systems, and provide the public with richer pharmaceutical products and services. (Finish)