Yibai Pharma To Acquire Horus C&K Pharma For $128 Million
7/16/2014 8:52:57 AM
Guizhou Yibai Pharma will pay $128 million to acquire Tianjin Horus C&K Pharmaceutical. Horus reported revenues of $32 million and profits of $6 million in 2013, pricing the purchase and 4X sales and 21X profit. However, the company’s business seems to be improving this year. In the first five months of 2014, Horus’ sales are up 30% and profits climbed 65%. Horus makes five products: two generic chemicall drugs and three TCM products. One TCM is an exclusive product for Horus.
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