LYNDHURST, N.J., Jan. 9, 2015 /PRNewswire/ -- Amerigen Pharmaceuticals Limited ("Amerigen") today announced the signing of an agreement with an affiliate of Fosun Pharma ("Fosun") under which Fosun will invest USD 35 million in newly issued equity in Amerigen. Amerigen intends to use the proceeds primarily to deepen its product pipeline through additional investments in product development and business development. As a result of its investment, Fosun will also be entitled to a seat on Amerigen's board of directors. Commenting on the deal, John Lowry, Amerigen's President and CEO, stated, "I am delighted to welcome Fosun as an investor in Amerigen. With Fosun's leading presence across the spectrum of healthcare in China, and its international outlook, we view this equity investment as the first step in a broader collaboration between the two companies that will facilitate the joint development of products targeting both the United States and Chinese pharmaceutical markets. Mr. Chen Qiyu, Fosun Pharma's Chairman, added, "From both financial and strategic viewpoints, we are excited to enter into this agreement with Amerigen. Through its US FDA and CFDA approved facility in Suzhou, Amerigen has established an impressive platform in China which, when coupled with an attractive product portfolio and a commercial presence in the United States, makes Amerigen an ideal partner for Fosun Pharma."
Amerigen Pharmaceuticals is a group of companies engaged in all phases of the generic pharmaceutical business, with operations in the US and China. The group is controlled by Amerigen Pharmaceuticals Limited. The US regulatory and commercial activities within the group are conducted by Amerigen Pharmaceuticals Inc., based in Lyndhurst, NJ, USA. The group's Chinese subsidiary, Suzhou Amerigen Pharmaceuticals Company Limited, is located in Suzhou, Jiangsu Province. The group has products on the market currently in both the US and China plus an active portfolio of products under development, filed, or intended for filing, as ANDA's with the US FDA and the Chinese CFDA. Amerigen's focus is orally delivered products that are challenging to develop, require specialized technologies or high containment to manufacture, and present complex regulatory and intellectual property obstacles to bring to market. All Amerigen's products are developed and manufactured by the company or its partners around the world to meet the highest quality standards, including the US FDA.
About Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Established in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma") is a leading listed company in China's pharmaceutical industry and was listed on Shanghai Stock Exchange in August 1998 and on the Main Board of the Stock Exchange of Hong Kong Limited in October 2012 (stock code: 600196-SH, 02196-HK). Its main business includes pharmaceutical manufacturing, healthcare services; diagnostic products and medical devices. For more information, please visit www.fosunpharma.com
CONTACT: (732) 993-9821
SOURCE Amerigen Pharmaceuticals