Sidley has advised Shanghai Pharmaceuticals Holding Co. Ltd. (HKEX: 2607) (SSE: 601607) (SPH) on its joint venture with Phililab, Inc. (Phililab) through its Delaware subsidiary, SPH Pharmaceutical (USA), Inc. In this transaction, SPH contributed cash while Phililab contributed R&D projects, IP rights and other assets to the joint venture as their respective initial capital contributions.
This joint venture, located in Philadelphia in the U.S., will be SPH’s first overseas R&D center. The establishment of this R&D center is a milestone event of the international strategy of SPH to form new product development and industrialization platforms in multiple places around the world. The R&D center will help accelerate the R&D and registration process of high-end generic drugs and promote SPH’s international development.
Headquartered in Shanghai, SPH is a vertically integrated and diversified state-owned pharmaceutical group that provides leading healthcare services including research and development, manufacturing, distribution and retail. Phililab is a U.S.-based pharmaceutical company with worldwide connections, which specializes in formulation and analytical development services for an eclectic group of clients.
The Sidley team was led by Joseph Chan, with support from Calamus Huang and Peiwen Zheng.