Meitheal Pharmaceuticals said on Thursday that it has received USD95m for a majority stake investment in the company from Hong Kong King-Friend Industrial Company (HKF), a wholly-owned subsidiary of Nanjing King-Friend Biochemical Pharmaceutical Company (NKF).

Based in China, NKF is principally engaged in the research and development, production and sales of Active Pharmaceutical Ingredients (API) and Finished Dosage Form (FDF).

Upon closing of the transaction, Meitheal is now majority-owned by NKF and will serve as its exclusive commercialisation arm in the US.

Based in Chicago, Illinois, Meitheal is a supplier of affordable generic injectables. Its diversified products include antibiotics, anticoagulants, muscle relaxants and drugs used in chemotherapy.