Jiangxi Boya Bio-Pharma Makes Two Acquisitions: Will Raise $78 Million

Jiangxi Boya Bio-Pharmaceutical, a blood products pharma, agreed to make two acquisitions: it purchased an 84% stake in Nanjing Xinbai Pharmaceutical in exchange for stock, and it also acquired a 28% interest in Guizhou Tianan Pharmaceuticals for cash. Neither amount was disclosed. To pay for the transaction, Boya said it would raise as much as $78 million through a private placement. The raised capital will also help pay for building Boya's new R&D center and development of new coagulation factor products.

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