PAG Asia bets $250m on Chinese pharmco
China is entering a new era, with its new model for growth powered by technology and innovation rather than a focus on cheap manufacturing. Biotechnology, as one of the seven “strategic emerging industries” in the 12th Five-Year plan, is experiencing stellar growth and attracting more attention from private equity players as a result.
Last week, PAG Asia invested $250 million in Shaanxi-based Bicon Pharmaceutical Holdings and became its largest investor. Weijian Shan, chairman and CEO of PAG, has been appointed chairman of the company's...
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