Bioton hits a bulls eye with its latest acquisition

Yesterday revealed that just a few days after it purchased an additional stake of 18.6% in SciGen, the Singapore based firm has managed to sign a record high contract with China's Hefei Life Sciences for the delivery of Sci-B-Vac, a vaccine against hepatitis B. The share price of Sci-Gen, in which Bioton currently holds 24% stake, rose on Monday by 113%. The minimum value of the contract is $145 million, but it could reach even up to $210 million. In comparison, SciGen recorded revenues of just $5 million in the last accounting year. The Chinese counterpart is a state owned company which is currently in the process of receiving all required permissions to market the drug on the Chinese market. It is still unknown whether the price of the additional stake bought by Bioton will not change due to the newly signed contract. (Parkiet, p. 1) A.K.