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Waunakee lab sold to Chinese firm

 
Waunakee lab sold to Chinese firm
Posted December 27th, 2013 @ 6:55am by Associated Press

MADISON, Wis. (AP) _ A Chinese manufacturer plans to buy Waunakee-based Scientific Protein Laboratories.

The nearly $338 million acquisition by Shenzhen Hepalink Pharmaceutical will be complete in the first half of 2014, if regulators approve.

Both companies make the active pharmaceutical ingredient in heparin, a commonly used blood thinner.

Scientific Protein Labs also produces pancreatin, an enzyme replacement for people with cystic fibrosis and others whose pancreas does not function properly.

The Waunakee headquarters has 167 employees, and a Sioux City, Iowa, location has 34 employees.

Scientific Protein Labs was founded in 1976 as an offshoot from Oscar Mayer Foods, to make pharmaceutical and chemical products from animal processing byproducts. Heparin's key ingredient is made from pig intestines, and pancreatin, from pig pancreases.

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