Luye Pharma of Yantai will purchase the 42% of Beijing Jialin Pharma it does not already own for $390 million. In August, Luye announced it would pay $599 million to acquire an initial 58% stake in Beijing Jialin, a company focused on cardiovascular and cancer drugs. In 2013, Beijing Jialin reported $180 million of revenue and net profit of $41 million. The total purchase price of $989 million is 24 times Jialin’s 2013 profit.
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