Synmosa to consolidate hold on Health Chemical in 128 million deal

     Date: 2017.9.29

The Synmosa Biopharma Corporation (4114) board passed the acquisition of the remaining 39.03% shares of its subsidiary, Health Chemical Pharmaceutical Co., Ltd. in the amount of NTD128 million, entitling Synmosa to 100% of Health Chemical’s shares. This acquisition is in response to the integration of Synmosa Group, striving to gain domestic and foreign “enema” market shares.

Health Chemical specializes in “enema and soft cream” have recently set up the automated production and has passed TFDA inspections, which are expected to aid the Group’s future expansion of product marketing channels and product development.

Founded in March 1970, Health Chemical with the development of featured “Liquid agent and soft cream” dosage forms, is in compliance with the PIC/S GMP Standards of the Food and Drug Administration, Ministry of Health and Welfare. The Health Chemical’s “enema” products, with its “easy-to-use” patented design, have been exported to Canada, Singapore, Hong Kong, Macau, Malaysia, Indonesia, Brunei and other countries. Currently, the company is one of the top three pharmaceutical companies in terms of domestic market shares. Its sales and distribution channels have been expanded to include the major chain pharmacy channels and main medical centers nationwide.

Lin Chih-Hui, CEO of the Synmosa Group, said the main strategic objective behind the acquisition of Health Chemical is to further integrate the Group’s resources. This acquisition is expected to accelerate the Group’s “Liquid agent and soft cream” dosage form related drug production line development and expand the market domain.