Jing Ji Guan Cha Wang·2026-01-14 02:39Core Viewpoint - China National Pharmaceutical Group (China Biopharmaceutical) announced a full acquisition of innovative drug company Hejiya Biopharmaceutical for 1.2 billion yuan, marking its second acquisition in a year [2][3] Group 1: Acquisition Details - The acquisition of Hejiya Biopharmaceutical is valued at 1.2 billion yuan, with a market-to-research ratio of 18.75 times based on Hejiya's projected R&D expenditure of approximately 64 million yuan for 2024 [5] - Hejiya Biopharmaceutical focuses on the development of small nucleic acid drugs, a hot area in innovative pharmaceuticals, with its lead clinical pipeline targeting lipoprotein(a) [4][5] - The acquisition aligns with China Biopharmaceutical's strategy to focus on major chronic diseases and oncology, as stated by the chairman, Xie Qirun [5] Group 2: Company Background and Financials - China Biopharmaceutical has a history of acquisitions, including a notable 950 million USD acquisition of Lixin Pharmaceutical in 2025, which set a record for traditional Chinese pharmaceutical companies acquiring innovative firms [3] - The company has significant cash reserves, with over 300 billion yuan in total assets, making it one of the most financially robust pharmaceutical companies in China [5] - Following the announcement of the acquisition, China Biopharmaceutical's stock price rose by 3.76%, reaching 7.17 HKD per share, with a total market capitalization of 134.5 billion HKD [6]