MADISON (AP) -- A Chinese manufacturer plans to buy Waunakee-based Science Protein Laboratories.
The Wisconsin State Journal reports 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 67 employees, and a Sioux City 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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