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Meitheal Pharmaceuticals, a fully integrated generic injectables company based in Chicago, Illinois has announced that Hong Kong King-Friend Industrial Company, a wholly-owned subsidiary of China-based manufacturer Nanjing King-Friend Biochemical Pharmaceutical Company (NKF), has agreed to take an increased stake in the business for $95 million. Upon close of the transaction, which is anticipated in the fourth quarter of 2019, NKF will have a majority share of ownership in Meitheal.
Meitheal primarily specializes in the development, manufacture, procurement, and sale of generic injectable pharmaceuticals, with 12 FDA-approved products covering indications for anti-infective, oncolytic and intensive care. Furthermore, Meitheal has an expanding product portfolio and robust pipeline, including single and multi-dose vials, ready-to-use prefilled syringes and premixed bags.
As of the end of June 2019, Meitheal had 49 products in the research and development phase, 24 products were under review by the US Food and Drug Administration (FDA), and 8 products were planned to be launched in 2019.
