China's Universe Pharmaceuticals (NASDAQ: UPC) Makes Nasdaq Top Gainer List On Acquisition News
The stock makes the Nasdaq top percentage gainer list, currently trading at 13.31 +10.35 (+349.49%) on 41 Million shares as of this report. The stock has a morning high of $17.96.
Universe Pharmaceuticals INC (NASDAQ: UPC) announced on Friday after market it has entered into a share purchase agreement to acquire 100% of the issued shares of Best Praise International Limited, a company that holds five patents in China with potential applications in pharmaceutical development, for a total purchase price of US$10,751,000, payable in the form of 4,376,552 Class A ordinary shares of the Company.
The patent portfolio covers several pharmaceutical and healthcare-related areas, including age-related diseases, neurodegenerative conditions, cognitive disorders, cardiovascular-related pharmaceutical applications, antibacterial compounds and drug delivery technologies. The Company believes these patented assets are complementary to its existing focus on elderly healthcare and may provide additional opportunities to pursue research and development projects, co-development efforts, licensing arrangements, or other commercialization opportunities in areas that complement the Company's existing pharmaceutical business.
AdvertisementMr. Gang Lai, Chief Executive Officer of Universe Pharmaceuticals, commented:
The Company believes that the proposed acquisition is consistent with its long-term strategy of expanding its pharmaceutical platform around elderly healthcare, age-related conditions and other areas of market relevance.
The closing of the acquisition is subject to customary closing conditions. The transaction has been approved by the Company's board of directors and is expected to close in the third quarter of 2026. There can be no assurance that the transaction will be completed on the anticipated terms or timeline, or at all.
The share purchase agreement has been filed as an exhibit to a report on Form 6-K with the U.S. Securities and Exchange Commission. Investors and shareholders are encouraged to read the share purchase agreement and other relevant documents when they become available.
Universe Pharmaceuticals INC, headquartered in Ji'an, Jiangxi, China, is a pharmaceutical producer and distributor in China. The Company specializes in the manufacturing, marketing, sales and distribution of traditional Chinese medicine derivatives products targeting the elderly with the goal of addressing their physical conditions in the aging process and to promote their general well-being. The Company also distributes and sells biomedical drugs, medical instruments, Traditional Chinese Medicine Pieces, and dietary supplements manufactured by third-party pharmaceutical companies. Currently, the Company's products are sold in 30 provinces of China..
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