Ashurst has represented China Medical System Holdings (CMS, HKSE: 0867), a leading China-based pharmaceutical promotion service provider, on its acquisitions of two heart drugs from UK pharmaceuticals group AstraZeneca for a total of US$500 million.

The two transactions involved CMS paying US$310 million for a 20 year licence to sell Plendil blood pressure medicine in China, and funding its 26% owned Shanghai listed associated company Tibet Rhodiola Pharmaceutical Holdings Co., Ltd. to acquire Imdur angina treatment product for the global market other than the US for US$190 million.  CMS will ultimately capitalise its funding provided to, and increase its shareholding in Tibet Rhodiola Pharmaceutical.

Joshua Cole, partner at Ashurst said, "This is an exciting investment by China Medical Systems and we are pleased to be part these transactions. It is a strategic investment and the deals provide CMS access to strong branded products. The transactions were highly complicated and involved multiple jurisdictions. Our seamless global network and client team, combining cross border experience and local knowhow, enabled us to help our client to achieve its business objectives."

The transactions were led by Lina Lee, Managing Partner Hong Kong, and Joshua Cole, Partner, and assisted by Corporate associates Alistair Tso and Edith Ma. London based Partner Neil Cuninghame played a key role in competition filing analysis in relation to the acquisition of Imdur, supported by Senior Associate Alexi Dimitriou.