Universe Pharmaceuticals Expands Intellectual Property Strategy with Proposed Patent Portfolio Acquisition
Universe Pharmaceuticals (NASDAQ:UPC) announced that it has entered into a share purchase agreement to acquire Best Praise International Limited, a transaction that would add five China-based pharmaceutical patents to the company's intellectual property portfolio. The proposed acquisition, valued at approximately US$10.75 million and payable in Class A ordinary shares, is expected to broaden the company's research and development platform while expanding its focus beyond its existing traditional Chinese medicine business.