Drug developer Alpharma Inc. has bought Shenzhou Tongde Pharmaceutical Co.
Ltd. a China-based company involved in the production of antibiotics for
livestock. Financial terms of the deal for were not
The Shenzhou City-based company makes zinc
, which is the antibiotic that keeps livestock healthy, with
annual sales of $5 million, Alpharma said.
Expanded presence in
The company said it will continue to support Tongde's customer
base and also export the product to other markets. With the acquisition,
Alpharma expanded its presence in China.
"In 2006, we announced an
agreement with Zhejiang Hisun Pharmaceutical Co., Ltd. that will double the
capacity of the company's largest and fastest growing active pharmaceutical
ingredient product, vancomycin
, subject to the receipt of the required regulatory
approvals," Dean Mitchell, Alpharma's president and chief executive, said in a
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(Source: Associated Press)
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