May 17,Pharmaron Discloses an Announcement Regarding the Sale of Equity in an Overseas Participating Company. Its wholly-owned subsidiary, Pharmaron Hong Kong Investment, holdsProteologixThe10.21% Equity, will be sold to Johnson & Johnson for approximately $102 million (equivalent to about 725 million RMB) through a merger acquisition by Proteologix.It is worth mentioning that the equity interest in Proteologix held by Pharmaron Hong Kong Investment mainly came from September 2021 and November 2022, byPharmaronPreviously subscribed with自有funds of 3 million USD and 4 million USD respectively. A rough calculation shows that if Johnson & Johnson's acquisition is successfully completed this time, its value will have increased more than 13 times during the investment period, and subsequently, it will also...PharmaronThe net profit performance in 2024 will have a significant positive impact.Following the effectiveness date of the merger and acquisition, Johnson & Johnson is required to pay an initial payment of approximately USD 86.821 million to Pharmaron through a paying agent within 60 days; within 60 days after Johnson & Johnson or its affiliates achieve the R&D project milestones specified in the agreement, Johnson & Johnson will pay Pharmaron a milestone payment of approximately USD 15.321 million via the paying agent.Copyright © 2024 PHARMCUBE. All Rights Reserved.
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