In less than a month, another subsidiary of this pharmaceutical company will be spun off and listed!

【Pharmaceutical Network Enterprise News】Recently, Kelun Pharmaceutical announced that the company intends to spin off its holding subsidiary, Kelun Botai, to be listed
on the Hong Kong Stock Exchange.
After the completion of the spin-off, the shareholding structure of Kelun Pharmaceutical will not change and will still maintain control
of Kelun Pharmaceute.
According to public information, the listed Kelun Pharmaceutical business spans the fields of pharmaceutical research and development, drug manufacturing and commercial circulation, and is engaged in the research and development, production and sales of infusion products, innovative drugs, generic drugs and
antibiotic intermediates.
Over the years, Kelun Pharmaceutical has a solid main business, pays attention to research and innovation, and steadily improves its business scale, profitability and industry influence, forming a business pattern
driven by "large infusion + antibiotics + drug research and development".
The birth of Kelun Botai is mainly due to the innovation and transformation launched by Kelun Pharmaceutical since 2012, focusing on the research and development of biological innovative drugs, covering anti-tumor, diabetes, liver disease and other fields
.
According to the financial data of Kelun Pharmaceutical, from 2019 to 2021, the net profit attributable to the parent company of Kelun Botai was about -802 million yuan, -791 million yuan and -890 million yuan, respectively, with a total loss of about 2.
48 billion yuan
in the past three years.
Through this spin-off, KelunBotai, as the main platform for the R&D, production, listing and international cooperation business of the company's biological innovative drugs, will achieve independent listing, and it is expected to embrace the international capital market with the help of Hong Kong capital market financing, enhance international visibility, enhance financial strength, and lay a solid foundation
for the long-term development of KelunBotai.
At the same time, this spin-off will also help to enhance the influence of Kelumbertai in the international market and improve the comprehensive competitiveness
of Kelumbertai.
It is worth mentioning that in the listing plan released this time, Kelun Pharmaceutical also disclosed the equity share of KelunBotai for the first time, of which Merck holds 6.
95% of the shares, which is the second largest shareholder
of KelunBotai.
It is understood that since 2022, Kelun Pharmaceutical has reached authorized cooperation
with Merck on 9 ADC projects.
Among them, at the end of December 2022, Colonbert granted Merck seven different preclinical ADC (antibody conjugate, formed by the conjugation of monoclonal antibodies and small molecule drugs) drug candidates in its pipeline to conduct research, development, manufacturing and commercialization
in designated regions in the form of global exclusive licenses or exclusive license options.
According to the announcement at the time, if Colombert decides to license the global benefits of the fully granted exclusive license option project to Merck, it is expected to receive MSD milestone payments totaling no more than $9.
3 billion
.
It should be noted that the spin-off of Kelun Pharmaceutical this time is actually less than a month
after Chuanning Biologics was listed.
It is reported that in June 2020, Kelun Pharmaceutical started the spin-off
of its subsidiary Chuanning Biotechnology, which is mainly engaged in antibiotic intermediates, to the GEM listing.
After more than two years, Chuanning Biotech was successfully listed
on the Growth Enterprise Market of the Shenzhen Stock Exchange on December 27, 2022.
Chuanning Biologics issued A shares at a price of 5 yuan per share, with a total of 222.
8 million shares, accounting for 10.
02% of the company's total share capital after this offering, and raising a total of 1.
114 billion yuan
.
Among them, part of the fundraising will be invested in the construction project
of the Shanghai Research Institute.
It is understood that the Shanghai Research Institute of Chuanning Biology started construction in 2020 and was officially put into use
in May 2021.
Analysts believe that the current frequent spin-off of subsidiaries listed by Kelun Pharmaceutical is related to
its transformation and upgrading, and has decided to transform into innovative drugs.
It is understood that in recent years, with the introduction of policies such as "restriction of resistance" and "restriction of infusion" and the domestic environmental impact, the growth rate of large infusion production has generally shown a downward trend
.
In addition, the launch of the centralized procurement policy has also had a significant impact
on the generic drug business of Kelun Pharmaceutical.
Therefore, at present, in addition to spinning off subsidiaries to list and accelerate its own transformation into innovative drugs, in fact, Kelun Pharmaceutical has also entered the hot field
of synthetic biology.
Disclaimer: Under no circumstances does the information or opinions expressed herein constitute investment advice
to anyone.