Divestiture • Life Science

PAG Acquires BioRay Pharmaceutical

On September 5, 2019, asset manager PAG acquired life science company BioRay Pharmaceutical from Hisun Pharmaceutical for 540M USD

Acquisition Context
  • This is PAG’s 1st transaction in the Life Science sector.
  • This is PAG’s 5th largest (disclosed) transaction.
  • This is PAG’s 4th transaction in China.

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M&A Deal Summary

Date September 5, 2019
Target BioRay Pharmaceutical
Sector Life Science
Buyer(s) PAG
Sellers(s) Hisun Pharmaceutical
Deal Type Divestiture
Deal Value 540M USD

Target Company

BioRay Pharmaceutical

Taizhou, China
BioRay Pharmaceutical is a large-scale, fully integrated biopharmaceutical company specializing in the development, manufacturing and sales of biologic drugs for auto-immune and oncology treatment areas. BioRay Pharmaceutical was founded in 2019 and is based in Taizhou, China.
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Buyer Overview 1

Buyer

PAG

Hong Kong, China

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2002
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PAG is a large independent alternative investment management group focused on private equity, real estate, and absolute returns. PAG’s private equity business, PAG Asia Capital or PAGAC, focuses on large-scale buyouts, control deals, and structured minority investments. PAG’s real estate strategy manages a series of real estate opportunity and core plus funds investing in properties in Japan, China and throughout Asia-Pacific. PAG’s absolute return business focuses on building long term relationships with its partners by offering a flexible range of financing solutions to meet short and long term funding needs. PAG was formed in 2002 and is headquartered in Hong Kong.


Deal Context for Buyer #
Overall 7 of 27
Sector: Life Science 1 of 5
Type: Divestiture 2 of 5
Country: China 4 of 11
Year: 2019 2 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-12 Craveable Brands

Chatswood, Australia

Craveable Brands is an Australian-owned operator of quick-service restaurants with over 580 stores across Australia under the Oporto, Red Rooster and Chicken Treat brands. It also has a growing international network, with stores in New Zealand, Singapore, and Sri Lanka and a number of countries in the Middle East. Craveable Brands was founded in 2007 and is based in Chatswood, New South Wales.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Sekhmet Pharmaventures

Mumbai, India

Sekhmet Pharmaventures plans to acquire controlling stakes in multiple Active Pharmaceutical Ingredient (API) businesses. Sekhmet Pharmaventures is based in Mumbai, Maharashtra.

Buy -

Seller Profile 1

SELLER

Hisun Pharmaceutical

Taizhou, China

Category Company
Founded 1956
Sector Life Science
Employees7,994
Revenue 10.3B CNY (2024)
DESCRIPTION

Hisun Pharmaceutical engages in the research, development, production, and sale of biological and generic drugs in China. The company provides active pharmaceutical ingredients and finished dosage form products. Hisun Pharmaceutical was founded in 1956 and is headquartered in Taizhou, China.


Deal Context for Seller #
Overall 1 of 1
Sector: Life Science 1 of 1
Type: Divestiture 1 of 1
Country: China 1 of 1
Year: 2019 1 of 1
Size (of disclosed) 1 of 1

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