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Alpharma Expands Presence in China
US - Alpharma Inc., a leading global specialty pharmaceutical company, announced it has acquired the assets of Shenzhou Tongde Pharmaceutical Co. Ltd ("Tongde") in Shenzhou City, China.
Tongde, a supplier to the company's Animal Health business, currently manufactures and markets zinc bacitracin with annual sales of approximately $5 million. Following the acquisition, the company will continue to support the current customer base of Tongde while also exporting the product to other markets.
"This agreement establishes a second footprint for Alpharma in the important Chinese market", commented Dean Mitchell, President and Chief Executive Officer. "In 2006, we announced an agreement with Zhejiang Hisun Pharmaceutical Co., Ltd that will double the capacity of the company's largest and fastest growing Active Pharmaceutical Ingredient product, vancomycin, subject to the receipt of the required regulatory approvals.
The acquisition announced today for the Animal Health business significantly improves our ability to service our global zinc bacitracin customers. Both of these moves are indicative of Alpharma's strategic commitment to invest in Asia to both establish a market presence and further improve our supply chain."
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