Universe Pharmaceuticals INC Enters into Definitive Agreements with Kitanihon Pharmaceutical Co., Ltd
December 11, 2021 at 02:45 am IST
On December 1, 2021, Universe Pharmaceuticals INC entered into definitive agreements with Kitanihon Pharmaceutical Co. Ltd., pursuant to which (i) both parties will build a manufacturing facility in Jian, Jiangxi, China, for the manufacturing and research and development of traditional Chinese medicine derivatives products, with an aggregate area of over 430,000 square feet, and the Company will bear the costs associated with building the facility, and (ii) the Company will purchase 464 shares of Kitanihon for an aggregate of JPY176.32 million (approximately US$1.56 million).