DC Advisory (DC) advised Sumitomo Corporation (Sumitomo) on the strategic acquisition of 29.0% stake in the Singapore-listed C&O Pharmaceutical Technology Holdings Limited (C&O) from Leo Star Development Limited (Leo Star), Leo Star is controlled by Mr. Gao Bin, the founder. 

C&O is engaged in research and development, manufacturing, import and distribution of pharmaceutical products in China. C&O utilizes its sales network to distribute own-and third-party brands to 300,000 customers which include clinics, hospitals, and pharmacies.

Upon completion of the acquisition, Leo Star holds approximately 29% stake in C&O while Sumitomo is the second largest shareholder with a 29.0% stake.

Prior to the acquisition, Sumitomo was involved in introducing new drugs from Japan, the US, and Europe into China's pharmaceutical market.

With the acquisition, Sumitomo will embark on pharmaceutical development on a contract basis, utilizing C&O's R&D platform.

Utilizing its global supply chain, Sumitomo intends to provide C&O with highly competitive active pharmaceutical ingredients, and to export C&O branded products to Southeast Asian markets.