(Yicai Global) July 9 -- Shanghai Fosun Pharmaceutical (Group) will spend CNY250 million (USD36 million) to gain the rights to UK-based GlaxoSmithKline's East China pharmaceutical factory, together with all production facilities and authorizations for its chronic hepatitis B drug.

Its Chongqing Yaoyou Pharmacy unit penned the asset purchase agreement with GlaxoSmithKline (China) Investment yesterday, Fosun Pharmaceutical announced that same day.

Fosun Pharmaceutical's shares [SHA:600196] rose 1 percent on the news to CNY26.36 (USD3.83) in morning trading.

The target plant's main asset is drug registration approval, a production license and good manufacturing practices certificates and production facilities for 0.1-gram Lamivudine tablets used to treat chronic hepatitis B, per the announcement. The factory has a designed annual output of 32.62 million boxes, each with 14 pills.