Ching Chang to Acquire 76% Stake in Anstar Pharmaceuticals for Over NT$890 Million, Entering Pharmaceutical Manufacturing

(CNA) - Taipei, June 18 - Ching Chang Biotechnology, a medical equipment supplier for hemodialysis, announced that its board of directors has approved the acquisition of 10.868 million common shares from Anstar Pharmaceuticals shareholders at a price of NT$82 to NT$86 per share. The total transaction amount is approximately NT$891 million to NT$934 million, aiming to secure a 76% stake. This move will allow the company to enter the pharmaceutical manufacturing sector, strengthening its vertical integration strategy within the medical industry.

Ching Chang Biotechnology held a press conference today to announce the significant news, with Chairman Lee Chung-liang and General Manager Chen Kuo-shih in attendance to explain the acquisition.

Chen Kuo-shih stated that the board has authorized the acquisition of a 76% stake in Anstar Pharmaceuticals within the range of NT$891 million to NT$934 million. The investment will be finalized and settled according to the contract after all relevant legal procedures are completed.

Chen Kuo-shih further explained that in response to the continuous growth of the global pharmaceutical market, Ching Chang is adopting an aggressive vertical integration strategy, aiming to expand its industry presence through investment in pharmaceutical manufacturing. Anstar Pharmaceuticals is a professional pharmaceutical manufacturer in Taiwan, certified with GMP, cGMP, and PIC/S GMP. Its product portfolio includes large-volume parenteral solutions, small-volume injections, and oral dosage forms.

Ching Chang stated that upon completion of the acquisition, it will enhance the stability of upstream supply and provide customers with more comprehensive and diverse products and services, thereby creating overall benefits and improving its competitiveness and market position in the medical and biotechnology industry.

Ching Chang noted that the transaction has obtained a fairness opinion from an accountant and an independent expert appraisal report, and has been approved by the audit committee and the board of directors. The funding will come from internal funds and bank financing. (Editor: Chang Liang-chih) 1150618

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