China’s Sunpower To Acquire Valeant’s US Biopharma Unit Dendreon For $819M

Chinese companies remain active buyers of overseas healthcare related assets.  Privately owned conglomerate Sanpower Group has agreed to acquire Valeant's biopharma unit Dendreon for US$819.9 million, as Valeant aims to offload its non-core assets, the companies announced.

Earlier today, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and Santa Monica, California-based Kite Pharma announced they will establish a joint venture to develop and commercialize cancer treatment in China.

Dendreon's first and only commercialized product is Provenge, an autologous cellular immunotherapy for prostate cancer treatment approved by the U.S. Food and Drug Administration in April 2010.

The number of prostate cance...

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