SciClone Accepts $605 Million Offer From China Investment Consortium
SciClone Pharma has accepted a $605 million acquisition offer from a group of China investors. Based in the San Francisco area, SciClone markets drugs in China. The investment group first made the offer in November 2016. Originally, SciClone did not seem interested, but its Board has now accepted the unchanged $11.18 per share bid. SciClone says it sees a difficult future as a US-based pharma with operations in China's price-conscious market. The privatization is led by GL Capital Management, which has been affiliated with Ally Bridge Group, an active China healthcare private equity firm.