Bidding for Nanjing Pharmaceuticals
Recently, Nanjing Pharmaceutical discussed with the British AB, China Resources, Sinopharm, and Shangda Pharmaceutical Group on the reorganization. The “cooperation†between the above-mentioned bidding group and Nanjing Pharmaceutical may not be through the acquisition of the equity of the listed company, and it is not excluded from the acquisition. Nanjing Pharmaceutical’s largest shareholder, Nanjing Pharmaceutical Group Co., Ltd.’s equity.
Guo Fanli, a research fellow in the pharmaceutical industry at China Investment Advisors, pointed out that because the actual “personnel†behind Nanjing Pharmaceuticals is the Nanjing SASAC, and the listed company has almost no right to speak, Nanjing Medical eventually resorts to others. The attitude of the Nanjing SASAC is very important. Under this background, China Resources has a greater chance of winning Nanjing Pharmaceuticals, because China Resources has always wanted to build a central enterprise pharmaceutical platform. When it won Beijing Pharmaceuticals, the clash between China Resources and the Beijing Municipal SASAC has made it possible to learn. With a lot of experience, this time negotiations with the Nanjing SASAC have been done.
Of course, whether China Resources can successfully win Nanjing Pharmaceuticals is not a foregone conclusion, because the strength of Sinopharm and the new drug should not be underestimated. Guo Fanli pointed out that if domestic companies interested in participating in mergers and acquisitions of Nanjing Pharmaceuticals are ranked first, then China Resources, Sinopharmaceuticals and Shanghai Pharmaceuticals are in turn, but currently British AB is a dark horse that has entered the eyes of people. In fact, the British AB began to enter the bid for Nanjing Pharmaceuticals after July, and “British AB’s acquisition of a 25% stake in the South Pharmaceutical Industry†is currently the loudest voice.
Guo Fanli believes that it is not so easy for British AB to win Nanjing Medical. Since British AB's acquisition of Nanjing Pharmaceuticals has involved in selling state-owned assets to foreign investors, there will undoubtedly be many obstacles in policy approval. In the face of the acquisition of several powerful pharmaceutical companies, Nanjing Pharmaceutical is undoubtedly the “Tan Xi†Nanjing Pharmaceutical ranked fourth in the top 100 domestic pharmaceutical circulation rankings in 2009. Apart from Sinopharm, China Resources and Shang Medicine have won Nanjing. Medicine will sit second in the circulation of domestic pharmaceuticals.
Guo Fanli, a research fellow in the pharmaceutical industry at China Investment Advisors, pointed out that Nanjing Pharmaceuticals is a pioneer in pharmacy custody business and has a relatively high market share in Jiangsu, Anhui and Fujian. In 2009, Nanjing Pharmaceuticals had sales of 14 billion yuan, which is about 75% of Kyushu Express [17.68 0.17%], but its corresponding market value is only 5 billion yuan, and only about one-fifth of the current market value of Kyushu Express, from It can be seen that the price of M&A in Nanjing Medicine is far more than 5 billion yuan, and its market value is seriously underestimated.
Guo Fanli, a research fellow in the pharmaceutical industry at China Investment Advisors, pointed out that because the actual “personnel†behind Nanjing Pharmaceuticals is the Nanjing SASAC, and the listed company has almost no right to speak, Nanjing Medical eventually resorts to others. The attitude of the Nanjing SASAC is very important. Under this background, China Resources has a greater chance of winning Nanjing Pharmaceuticals, because China Resources has always wanted to build a central enterprise pharmaceutical platform. When it won Beijing Pharmaceuticals, the clash between China Resources and the Beijing Municipal SASAC has made it possible to learn. With a lot of experience, this time negotiations with the Nanjing SASAC have been done.
Of course, whether China Resources can successfully win Nanjing Pharmaceuticals is not a foregone conclusion, because the strength of Sinopharm and the new drug should not be underestimated. Guo Fanli pointed out that if domestic companies interested in participating in mergers and acquisitions of Nanjing Pharmaceuticals are ranked first, then China Resources, Sinopharmaceuticals and Shanghai Pharmaceuticals are in turn, but currently British AB is a dark horse that has entered the eyes of people. In fact, the British AB began to enter the bid for Nanjing Pharmaceuticals after July, and “British AB’s acquisition of a 25% stake in the South Pharmaceutical Industry†is currently the loudest voice.
Guo Fanli believes that it is not so easy for British AB to win Nanjing Medical. Since British AB's acquisition of Nanjing Pharmaceuticals has involved in selling state-owned assets to foreign investors, there will undoubtedly be many obstacles in policy approval. In the face of the acquisition of several powerful pharmaceutical companies, Nanjing Pharmaceutical is undoubtedly the “Tan Xi†Nanjing Pharmaceutical ranked fourth in the top 100 domestic pharmaceutical circulation rankings in 2009. Apart from Sinopharm, China Resources and Shang Medicine have won Nanjing. Medicine will sit second in the circulation of domestic pharmaceuticals.
Guo Fanli, a research fellow in the pharmaceutical industry at China Investment Advisors, pointed out that Nanjing Pharmaceuticals is a pioneer in pharmacy custody business and has a relatively high market share in Jiangsu, Anhui and Fujian. In 2009, Nanjing Pharmaceuticals had sales of 14 billion yuan, which is about 75% of Kyushu Express [17.68 0.17%], but its corresponding market value is only 5 billion yuan, and only about one-fifth of the current market value of Kyushu Express, from It can be seen that the price of M&A in Nanjing Medicine is far more than 5 billion yuan, and its market value is seriously underestimated.
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