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Beijing Med-Pharm Corp. (BJGP.PK) and Alliance Boots plc Joint Venture Acquisition Plans Approved by Guangzhou Pharmaceutical Co. Ltd. Shareholders


4/3/2007 1:05:50 PM

PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--Beijing Med-Pharm Corporation (Nasdaq: BJGP) today announced that shareholders of Guangzhou Pharmaceuticals Company Ltd (“GPCL”) have approved the formation of a 50:50 joint venture in Guangzhou Pharmaceuticals Corporation (“GP Corp.”), the third largest pharmaceutical wholesaler in China, with Alliance BMP Limited, a UK-based investment vehicle formed by Beijing Med-Pharm and Alliance Boots plc (AB.LSE). GPCL shareholders voted to approve the joint venture at an Extraordinary General Meeting held in Hong Kong on April 2, 2007.

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