Venturepharma

In April 2012, CVC completed its US$108.8 million investment by way of senior secured convertible bond in Venturepharma Group (‘Venturepharma'), an innovative specialty pharmaceutical company that operates in China.

Post closing, CVC holds 14% equity interest (as converted basis) as the second largest shareholder in the company. Venturepharma has a broad product portfolio in a number of fast growing therapeutic areas (TA), particularly central nerve system (CNS) and anti-allergy. The company has strong capabilities in product development, manufacturing and sales. Venturepharma holds a large number of product rights and patents in China, one of the highest in the industry.

Venturepharma started as a CRO (clinical research outsourcing) service provider in 1999 and has gone on to build its commercialisation capabilities since 2008. It has since developed into an integrated specialty pharmaceutical company with an excellent product portfolio (41 approved products and 34 patents on these products) and a strong sales force covering 2000 hospitals/clinics. It is the market leader in anti-allergy and CNS segments (number one or two in each of the TAs or sub-TAs). The company's sales in 2011 reached RMB 492 million with RMB 305 million of EBITDA and RMB 249 million of NPAT. Its management team consists of highly motivated industry specialists with years of multinational working experiences. More than 25% of the staff has graduate, Master's or PhD degrees. Post CVC's investment, the company continues to performance well and is expected to have more than 40% sales growth in 2012.

I am extremely pleased to have teamed up with CVC, one of the most successful private equity firms globally. With this partnership, Venturepharma is better positioned to achieve our goal of becoming a world-class pharmaceutical company in China. I believe CVC will not only provide us with financial capital, but also vast management experience.

Bill Guo, CEO

Date of investment

2012

Fund

Asia III

Business

Pharmaceutical products

Country

China

Turnover

US$162.7 million

Number of employees

930

CEO

Bill Guo