India, June 26 -- Universe Pharmaceuticals Inc (UPC), a pharmaceutical producer and distributor in China, has entered into a share purchase agreement to acquire Best Praise International Limited, a company that holds five pharmaceutical patents in China, for a total purchase price of approximately US$10.75 million.
The deal will be paid in the form of 4,376,552 Class A ordinary shares of the Universe Pharmaceuticals.
The patent portfolio spans several therapeutic areas, including age-related diseases, neurodegenerative conditions, cognitive disorders, cardiovascular applications, antibacterial compounds and drug delivery technologies. Universe believes these assets complement its existing focus on elderly healthcare and may open opportuni...