Number two vit B1 firm to change hands?

- Last updated on GMT

Related tags: Thiamine

Genex Pharmaceutical has unveiled a plan to buy fellow Chinese
company Tianjin Zhongjin Pharmaceutical, one of the world's largest
producers of vitamin B1.

Genex said that the move was part of a strategy to develop into a company offering products lines internationally, as well as to expand its focus beyond its current activities in orthopaedics.

Vitamin B1 or thiamine is widely used in the food, nutritional supplement and pharmaceutical industries.

Zhongjin has unaudited revenues of approximately $16 million (€13m) and net income of around $3 million for the fiscal year ended 2003. It is the second largest manufacturer of vitamin B1 on a global basis based on annual production output, which is currently 1,500 metric tons.

Genex is particularly interested in its international distribution channels. Zhongjin currently exports 90 per cent of its products to countries outside China, including to the US and European markets. At present, Genex's orthopaedics product - used to help the healing of bone fractures - is distributed only in mainland China.

Under the terms of the proposed acquisition, Genex would acquire 100 per cent of Zhongjin in a stock transaction valued at no more than four times the audited net income of Zhongjin for the fiscal year ended 2003.

Fuzhi Song, chairman and majority shareholder in Genex, is the sole shareholder of Zhongjin.

Related topics: Suppliers, Vitamins & premixes

Related news

Related products

show more

NutraStrong™ - a global NHPs & supplements certification

NutraStrong™ - a global NHPs & supplements certification

Nutrasource Pharmaceutical and Nutraceutical Services | 20-Oct-2022 | Technical / White Paper

NutraStrong™ is the first industry-wide program that showcases each natural health product and supplement category against respective industry standards.

WHERE THE WORLD IS GOING NEXT FOR VITAMIN D

WHERE THE WORLD IS GOING NEXT FOR VITAMIN D

PLT Health Solutions | 13-Oct-2022 | Product Brochure

Earthlight® Whole Food Vitamin D is a clean label ingredient that can help you create cutting-edge fortified foods and supplements. Low use levels mean...

An Overview of GRAS, NDI, Novel Food & Master File

An Overview of GRAS, NDI, Novel Food & Master File

Nutrasource Pharmaceutical and Nutraceutical Services | 29-Sep-2022 | Sponsored Link

Join Nutrasource and RNI Consulting as experts discuss key regulatory pathways: GRAS, NDIN, Novel Food and NHP Master File for US, Canada, and EU / UK.

Follow us

Products

View more

Webinars