Shanghai RAAS to acquire Banghe Pharma

With the Chinese government no longer issuing new blood products business license, the Chinese blood product industry is entering into a phase of rapid consolidation. Shanghai RAAS Blood Products has announced that it will acquire 100% stake in Banghe pharmaceuitcal company. for $290m or RMB 1.8 billion.  Both companies are involved in biologic plasma-derived products. In order to fund the transaction, RAAS will raise RMB 500million ($80m) by issuing fresh equity to RAAS China limited.