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Aida Pharmaceuticals, Inc. Announces Completion of Research Institute Acquisition
May 5th, 2008
2008 MAY 5 -- Aida Pharmaceuticals, Inc. (BULLETIN BOARD: AIDA) announced that it has completed the acquisition of a controlling interest in Jiangsu Institute of Microbiology Co., Ltd. ("JSIM"), one of the leading microbiology research institutes in the People's Republic of China. JSIM has several drugs currently undergoing clinical testing and has new products in its development pipeline. This acquisition is expected to add several new products to Aida Pharmaceutical Inc.'s existing line of products, thus diversifying its product mix and enabling the Company to increase its market share in the PRC pharmaceutical market. The controlling interest in JSIM was acquired through two of Aida Pharmaceutical Inc.'s subsidiaries, namely Hangzhou Aida Pharmaceutical Co., Ltd. (which acquired a 43% equity interest) and Changzhou Fangyuan Pharmaceutical Co., Ltd. (which acquired a 55% equity interest). JSIM is a national leader in microbiology with over thirty years of research history. It is located in Wuxi City in Jiangsu Province, has over thirty scientists and engineers that have completed over 200 research projects. Of these research projects, over twenty of them were developed as national-level key projects, as designated by the Chinese government. JSIM's research efforts have yielded numerous patents. Keywords: Aida Pharmaceuticals, Inc., Aida Pharmaceuticals Inc., Pharmaceutical Business, Pharmaceutical Company This article was prepared by Biotech Business Week editors from staff and other reports. Copyright 2008, Biotech Business Week via NewsRx.com.
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