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Post by mnholdem on Aug 2, 2018 10:55:22 GMT -5
SEC Fling July 2, 2018
www.sec.gov/Archives/edgar/data/1297184/000129718418000036/amph-20180702ex991dc7696.htm
Amphastar Announces Expansion of Amphastar Nanjing Pharmaceuticals Inc.
RANCHO CUCAMONGA, CA – July 9, 2018 – Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) announced business expansion plans for its subsidiary, Amphastar Nanjing Pharmaceuticals Inc. (“ANP”). To date, ANP has provided Active Pharmaceutical Ingredients (“APIs”) and starting materials specifically to Amphastar. After the expansion is completed, ANP intends to begin selling APIs both to Amphastar and externally around the world to expand its overall markets. More importantly, ANP is expanding to manufacture finished pharmaceutical products for distribution in China and in other markets globally.
To help fund this expansion, ANP completed a private placement of its equity, raising approximately $57 million. Multiple private equity investors from Mainland China, Taiwan, and the United States participated in the private placement. Amphastar has retained approximately 58% of the equity interest of ANP immediately after the private placement.
Amphastar's CEO, Dr. Jack Zhang, stated: "We believe that the expansion of ANP is the most effective way for us to leverage our existing assets on a global scale. We expect ANP to begin selling products externally to expand its markets in 2019. The raise of this money by ANP will also allow Amphastar to deploy more of its existing cash towards expanding its research and development for its pipeline."
Company Information
Amphastar is a specialty pharmaceutical company that focuses primarily on developing, manufacturing, marketing, and selling technically-challenging generic and proprietary injectable and inhalation products. Additionally, the Company sells insulin API products. Most of the Company’s finished products are used in hospital or urgent care clinical settings and are primarily contracted and distributed through group purchasing organizations and drug wholesalers.
Amphastar Nanjing Pharmaceuticals currently has four APIs and starting materials approved by the US Food and Drug Administration (“FDA”), nine Drug Master Files (“DMFs”) on file with the US FDA and is developing nine additional DMFs.
More information is available at the Company’s website at www.amphastar.com
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Post by madog365 on Aug 2, 2018 10:57:33 GMT -5
sorry just wondering, what does this have to do with mnkd?
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Post by boca1girl on Aug 2, 2018 10:58:59 GMT -5
sorry just wondering, what does this have to do with mnkd? They have first right of refusal to distribute Afrezza in China. |
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Post by mnholdem on Aug 2, 2018 10:59:16 GMT -5
SEC Filing: July 2, 2018
www.sec.gov/Archives/edgar/data/1297184/000129718418000036/amph-20180702x8k.htm
ITEM 1.01.Entry into a Material Definitive Agreement.
On July 2, 2018, Amphastar Nanjing Pharmaceuticals, Inc. (“ANP”), a Chinese subsidiary of Amphastar Pharmaceuticals, Inc. (the “Company”), completed a private placement of its equity to accredited investors for aggregate gross proceeds of approximately $57.2 million. In connection with the private placement, all of the executive officers of the Company, and Stephen Shohet, Howard Lee, and Richard Koo, independent directors of the Company, entered into subscription agreements (each, a “Subscription Agreement”) for the indirect investment in ANP. These Subscription Agreements were transacted either through an investment in Amphastar Cayman, a Cayman Islands limited liability company (“Amphastar Cayman”), or Qianqia, a Chinese partnership. The total aggregate gross proceeds from such executive officers and directors were approximately $23.5 million. The Company has retained approximately 58% of the equity interest of ANP immediately after the private placement. ANP intends to use the net proceeds from the private placement for its business expansion plans.
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I wasn't able to locate any information about this Chinese partner Qianqia. Is it misspelled?
Any diggers out there who can root out who this is?
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Post by peppy on Aug 2, 2018 11:03:49 GMT -5
Mike has been working with amphstar, negotiating....
per last conference call.
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Post by tinkusr8215 on Aug 2, 2018 11:25:24 GMT -5
Shouldn't this be in Other Topics? as its AMPH related?
If not then whats this about ? Is the global moderator speculating that AMPH raised that $$ and working with MNKD with out explicitly saying it?
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Post by traderdennis on Aug 2, 2018 11:39:26 GMT -5
Shouldn't this be in Other Topics? as its AMPH related? If not then whats this about ? Is the global moderator speculating that AMPH raised that $$ and working with MNKD with out explicitly saying it? AMPH is the contracted supplier for raw insulin for MNKD. MNKD has minimum contracts of about 2.7 million dollars per quarter, whether it uses the insulin or not, with one very large purchase around 2021 or 2022 for close to 9 digits. SO publishes the commitments that MNKD has to AMPH. AMPH is second only to Deerfield as debt holder to the company. I have been writing since Mike announced a second term sheet back in April that the term sheet might be for China with another company, not AMPH. It would be in MNKD interest during AMPH's first right of refusal to Afrezza in China to take a worse term sheet in exchange for renegotiation on future insulin purchases. |
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Post by mnholdem on Aug 2, 2018 13:49:23 GMT -5
Shouldn't this be in Other Topics? as its AMPH related? If not then whats this about ? Is the global moderator speculating that AMPH raised that $$ and working with MNKD with out explicitly saying it? That’s exactly what I’ve been saying for many weeks. I think Amphastar and MannKind have been hammering out a China sales agreement AND possibly manufacturing of Afrezza at Amphastar’s Chinese plant. |
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Post by tinkusr8215 on Aug 2, 2018 14:12:01 GMT -5
Shouldn't this be in Other Topics? as its AMPH related? If not then whats this about ? Is the global moderator speculating that AMPH raised that $$ and working with MNKD with out explicitly saying it? That’s exactly what I’ve been saying for many weeks. I think Amphastar and MannKind have been hammering out a China sales agreement AND possibly manufacturing of Afrezza at Amphastar’s Chinese plant. whats the process of regulatory approval in China for a drug ? |
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Post by straightly on Aug 2, 2018 14:20:41 GMT -5
That’s exactly what I’ve been saying for many weeks. I think Amphastar and MannKind have been hammering out a China sales agreement AND possibly manufacturing of Afrezza at Amphastar’s Chinese plant. whats the process of regulatory approval in China for a drug ? I posted before highlighting the changing/quickening of Chinese process. Unless ANP wants to play, the right of refusal is A US thingy means very little in China. |
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Post by tinkusr8215 on Aug 23, 2018 13:09:14 GMT -5
I hope the talks are still going on.
Any progress that can be interpreted?
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