TPG acquires Taiwan healthcare player

Terms of the transaction were not disclosed. According to a statement, the acquisition is aimed at facilitating the company’s growth within Greater China.

Founded in 1997, OPC offers support services to both small molecule generic and novel drug developers, as well as biologics, pharmaceutical and biotech companies. It operates through three subsidiaries including a Taiwan-based early-stage development unit focused on generic drugs, a pan-Asian unit for later-stage novel drug projects, and a joint venture with China’s Xuzhou Medical University. Activities span mainland China, Taiwan, Korea and Japan.

“On the back of new regulations that aim to raise drug quality to international standards, China’s pharmaceutical industry has entered a new phase of innovation-driven growth,” said Scott Chen, a partner at TPG. “This new regulatory context includes the requirement for a large portion of generic drugs to – within a tight timeframe – re-conduct bioequivalence trials creating demand that outstrips existing supply.”

The investment is expected to benefit from synergies with TPG’s existing Asia Pacific medical network. This includes partnerships with Chinese drug maker Shenzhen Hepalink Pharmaceutical and Australia’s Novotech, a medical researcher backed by Mercury Capital, Co-Investor Capital Partners and Direct Capital.

TPG claims to have more than $73 billion in assets under management globally. The firm is currently raising its seventh Asia-focused fund, which has a target of up to $4.5 billion.

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• Topics
• Greater China
• Healthcare
• Buyouts
• Taiwan (China)
• Pharmaceuticals
• TPG Capital