Posted Friday, December 27, 2013 -- 7:42 a.m.
MADISON, Wis. (AP) -- A Chinese manufacturer plans to buy Waunakee-based Scientific Protein Laboratories.
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.
Copyright 2013: Associated Press