- Asset purchase agreement by parent company Hong Kong King-Friend adds 18 new products to Meitheal’s robust generics portfolio
Chicago, IL – October 3, 2023 – Meitheal Pharmaceuticals, Inc. (“Meitheal”), a fully integrated generic injectables company based in Chicago, today announced it has expanded its portfolio of generic injectable products, through an asset purchase agreement by its parent company, Hong Kong King-Friend Industry Co., (HKF). The agreement increases Meitheal’s total generic injectables portfolio to 82 products.
“We are thrilled to announce the acquisition of these additional generic injectables, which represents a significant milestone for our innovative portfolio and reinforces our commitment to simplifying access to life-changing medicines through global partnerships,” said Tom Shea, CEO of Meitheal. “This strategic move furthers our mission to provide healthcare solutions within reach to meet the evolving needs of patients and healthcare providers.”
Under the agreement, HKF will acquire the right, title and interest, to 18 additional generic injectable products within the U.S. HKF will be responsible for the ongoing development and manufacturing of the products and will grant Meitheal exclusive rights to commercialize these products in the U.S.
“We are pleased to have secured rights to a broad portfolio of generic injectables and are confident in Meitheal’s capabilities to bring these to market in the U.S.,” said Eric Tang, President of HKF. “We look forward to progressing their development to bring these important options to patients in need together.”
ABOUT MEITHEAL PHARMACEUTICALS
Founded in 2017 and based in Chicago, Meitheal Pharmaceuticals is focused on the development and commercialization of generic injectable medications and, as of 2022, has expanded its focus to include fertility, biologic, and biosimilar products. Meitheal currently markets over 50 U.S. Food and Drug Administration (FDA)-approved products across numerous therapeutic areas including anti-infectives, oncolytics, intensive care, and fertility. As of the end of June 2023, Meitheal, directly or through its partners, has over 20 products in the research and development phase, 21 products planned for launch in 2023, and an additional 20 products under review by the FDA. Meitheal’s mission is to provide easy access to fairly priced products through robust manufacturing, consistent supply, and rapid response to our customers’ needs. Ranked among the top 100 Crain’s Best Places to Work in Chicago, Meitheal emulates the traditional Irish guiding principle we are named for — Meitheal (Mee·hall): working together toward a common goal, for the greater good.
Learn more about who we are and what we do at www.meithealpharma.com.
ABOUT HONG KONG KING-FRIEND INDUSTRIAL COMPANY (HKF)
Hong Kong King-Friend Industrial Company is a wholly-owned subsidiary of NKF, founded in 2010.
ABOUT NANJING KING-FRIEND BIOPHARMACEUTICAL COMPANY (NKF)
Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd. (NKF) is a China-based company principally engaged in the research and development, production and sales of Active Pharmaceutical Ingredients (API) and Finished Dosage Form (FDF). Established in 1986 as one of world leading manufacturers of heparin related APIs, NKF has grown into a fully integrated API and FDF manufacturer in multiple therapeutic areas including critical care and oncology. With three U.S. FDA approved manufacturing sites in China and more than 500 employees, including more than 100 dedicated research and development experts, NKF strives to meet patient needs globally with market presence in the U.S., China, EU and across the world. The Company is publicly listed on Shanghai Stock Exchange with a market capitalization over U.S. $3.0 billion.
MEDIA CONTACT
Meitheal Pharmaceuticals, Inc.
John Spilman, VP of Corporate Strategy
773 899 5910
info@meithealpharma.com
