Sagent Pharmaceuticals Raises $40 Million in Two Tranches of a Series B Financing
April 8, 2010
SCHAUMBURG, IL. Sagent Pharmaceuticals, Inc.,
a privately held specialty pharmaceutical company, announced today that
it has raised $40 million through two tranches of a strategic Series B
financing. In this round, a $10 million investment was made by Zhejiang
Hisun Pharmaceutical Co. Ltd. (Hisun), and the remaining $30 million was
contributed by an unnamed China-focused private equity investment fund.
To date, including this financing, Sagent has raised $153 million in
equity capital.
"We believe that these investments speak to the successful execution of
our business model, enrich the Company's strategic partnerships, and
extend Sagent's access to additional products and facilities," commented
Jeffrey M. Yordon, Sagent's chief executive officer, founder and
chairman of the board. "Sagent has gained expanded access to Hisun's
extensive portfolio of active pharmaceutical ingredients and, shortly,
to its finished injectable product capabilities. 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."
About Sagent Pharmaceuticals, Inc.
Sagent Pharmaceuticals, founded in 2006, is a privately held specialty
pharmaceutical company focused on developing, manufacturing, sourcing
and marketing pharmaceutical products, with a specific emphasis on
injectable products. Sagent has created a unique, global network of
resources, comprised of rapid development capabilities, sophisticated
manufacturing and innovative drug-delivery technologies, quickly
yielding an extensive portfolio of pharmaceutical products that fulfills
the evolving needs of patients. Sagent currently has more than 200
products in development.
To Discover Injectables Excellence™ and learn more about Sagent, please
visit
www.SagentPharma.com.
Investor Contact
Ronald E. Pauli, Sagent
(847) 908-1604
Media Contact
Aline Schimmel, WCG
(312) 646-6295
