CHINESS CONSORTIUM BOUGHT OVER SCICLONE PHARMACEUTICALS WITH $605 MILLION - CALIPHATE MEDIA

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Wednesday, 18 October 2017

CHINESS CONSORTIUM BOUGHT OVER SCICLONE PHARMACEUTICALS WITH $605 MILLION




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A Chiness consortium comprising of  Bank of China Group Investment Limited (BOCGI), CDH Investments, Ascendent Capital Partners and Boying , GL Capital Management GP Limited (GL Capital),. GL Capital led has rounded up a $605 million buyout offer for SciClone pharmacauticals Inc, which was priced at $11.18 per share.   With this success SciClone Pharmaceuticals Inc. a Nasdaq-listed company has been privatized and delisted from the New York-based stock exchange.
SciClone stopped trading  on the 13th October 2017at the end of the business.

SciClone, on its last day of public trading posted a market capitalisation of $581.94 million and closed at a price of $11.15 per share. Lazard Frères & Co. LLC served as a financial advisor to SciClone, and DLA Piper LLP served as legal counsel. Morgan Stanley & Co. LLC served as a financial advisor to the buyer Consortium and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel.
With this acquisition will SciClone merged with Silver Delaware Investment Limited and become a subsidiary of Silver Biotech Investment Limited, a holding company.
SciClone Pharmaceuticals, Inc is a California based speciality pharmaceutical company with lines of products that covers oncology, infectious diseases and cardiovascular disorders. SciClone is the producer of ZADAXIN (thymalfasin) used for the treatment of hepatitis B (HBV), hepatitis C (HCV), and certain cancers, and as an immune system enhancer approved for sales in more than 30 countries, according to the local regulatory approvals.

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 According to SciClone CEO, Friedhelm Blobel, 

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“We believe that SciClone has reached the stage where its long-term future and strategic path forward can best be realized as part of a corporate entity based in and managed from China.” “We are proud of the company we have built, and believe that the buyer consortium is best positioned to continue growing the business, compete more effectively and invest the necessary resources to further serve our customers and provide high-quality medicines to Chinese patients.”

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