Ashurst represents SYNthesis med chem on US$80 million sale of its CRO business

The sale comes as Chinese pharmaceutical companies are increasing their spend on the development of new drugs. This creates increased demand for the services of sophisticated CROs that possess the necessary R&D capabilities. The increased demand then drives M&A and consolidation in the CRO industry. This transaction is a prime example of this trend. After the sale of its CRO business, SYNthesis med chem will focus on its own drug development business.  

Lead partner Michael Sheng commented:

"It has been a real joy to work together with SYNthesis med chem on the sale of its CRO business. This sale will enable the client to pursue and grow its other high-potential businesses and represents a major milestone in its development."

The Ashurst team was led by partner Michael Sheng, who was assisted by counsel Daniel Öhvall and lawyer Chloe Xiang (Ashurst Shanghai). Partners Frank Bi, Chin Yeoh, Kylie Lane, Ken Nguyen, James Fletcher, senior associate Peter Allen and lawyer Roger Dong also advised on local law matters.