2025.03.14
On February 20, 2025, the overseas shareholder of FibroGen (China) Medical Technology Development Co., Ltd. ("FibroGen China") and the overseas entity of AstraZeneca signed a series of overseas transaction documents regarding the acquisition of FibroGen China. The transaction is expected to close in mid-2025, subject to customary closing conditions such as a regulatory review by the Chinese government.
The total consideration for this transaction is approximately USD 160 million. As the PRC legal counsel to the overseas shareholder of FibroGen China, JunHe provided whole-process legal services, including advising FibroGen China on the due diligence and revising and finalizing the overseas transaction documents.
FibroGen China is a biopharmaceutical technology company that was incorporated in November 2011 in the Beijing Economic-Technological Development Area. It has a formulation production plant in the Beijing Economic-Technological Development Area and an active pharmaceutical ingredient production plant in Cangzhou, Hebei. FibroGen China is dedicated to the research and development of innovative drugs, including Roxadustat (trade name: Evrenzo®), the world's first innovative drug based on the Nobel Prize-winning mechanism—Hypoxia-Inducible Factor (HIF) and the oxygen-sensing breakthrough theory. Roxadustat was launched in China in 2018 for the treatment of anemia caused by chronic kidney disease (CKD) in patients undergoing dialysis. In 2019, Roxadustat was approved for a new indication of anemia in non-dialysis-dependent chronic kidney disease (NDD-CKD) patients. As a globally first-in-class drug, Roxadustat has been used for the treatment of anemia in both dialysis and non-dialysis chronic kidney disease patients in China, bringing a new therapeutic breakthrough to a vast number of Chinese chronic kidney disease patients. The sales of Roxadustat exceeded RMB 1 billion in 2021 and surpassed RMB 2 billion in 2023.
AstraZeneca is the world’s leading pharmaceutical company with headquarters in the United Kingdom. It operates in over 100 countries and regions worldwide. The company focuses on the research, development, production, and marketing of various drugs, with a focus on therapeutic areas such as oncology, cardiovascular, renal and metabolism, respiratory, and immunology.
Under a tight schedule, the JunHe team closely cooperated with all the concerned parties. They leveraged their extensive experience and professional expertise in similar projects to assist with the contract conclusion for the sales deal and earned high recognition and praise from the client.
Partners BU, Yimu, LIU, Ning and LOU, Lan led the JunHe team, and partners LIU, Ning and LIN, Tao were responsible for the specific work.
