Illinois-based Sagent Pharmaceuticals announced today that it has raised $40 million through two tranches of a strategic Series B financing. A $10 million investment was made by Zhejiang Hisun Pharmaceutical, while an "unnamed China-focused private equity investment fund" contributed the other $30 million.
Sagent brings finished pharmaceutical therapies to the U.S. market with a focus on injectable products. "Sagent has gained expanded access to Hisun's extensive portfolio of active pharmaceutical ingredients and, shortly, to its finished injectable product capabilities," notes CEO Jeffrey Yordon in a statement. "In addition, Sagent's reach into China will be extended through the Chinese investment fund's strong relationships in the rapidly maturing injectable marketplace in that region."
- see Sagent's release