Basilea announces divestment of its Chinese R&D subsidiary to PHT International
Basel, Switzerland, February 15, 2021
Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today that it has entered into an agreement to divest its Chinese research and development (R&D) subsidiary Basilea Pharmaceutica China Ltd. (“BPC”), by selling BPC’s parent company BPh Investitionen Ltd. to the U.S.-based custom manufacturing organization PHT International Inc. (“PHT”). This will increase flexibility in sourcing R&D services in the future. All 72 employees and the facilities will be transferred to PHT. The initial payment is USD 2.5 million, which will be due upon closing of the transaction, which is expected in the second quarter of 2021 subject to customary closing conditions. Basilea is entitled to additional payments of USD 3.8 million over the course of the next three years, for a total purchase price of USD 6.3 million.
Basel, Switzerland, February 15, 2021
Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today that it has entered into an agreement to divest its Chinese research and development (R&D) subsidiary Basilea Pharmaceutica China Ltd. (“BPC”), by selling BPC’s parent company BPh Investitionen Ltd. to the U.S.-based custom manufacturing organization PHT International Inc. (“PHT”). This will increase flexibility in sourcing R&D services in the future. All 72 employees and the facilities will be transferred to PHT. The initial payment is USD 2.5 million, which will be due upon closing of the transaction, which is expected in the second quarter of 2021 subject to customary closing conditions. Basilea is entitled to additional payments of USD 3.8 million over the course of the next three years, for a total purchase price of USD 6.3 million.
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