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Zhejiang Hisun Group Co Ltd acquires a Minority Stake in PharmTak Inc

Aug. 1, 2011

Zhejiang Hisun Pharma announced on Aug. 2, 2011 that it will spend $2 million to buy a 25% stake in PharmTak, a US CRO that specializes in formulations. Based in San Jose, CA, PharmTak develops new drug delivery systems. Through this equity participation, Hisun aims to improve its capacity in improving high-end generic drugs via the patented technological platform of PharmTak.
According to the agreement, PharmTak will also assist Hisun in obtaining FDA certification for Hisun’s new drug production facilities.