Chi-Med JV Gains Rights To Distribute Six TCM Drugs
6/2/2014 1:39:43 PM
by Richard Daverman, PhD
June 2, 2014 -- Chi-Med said its China drug distribution JV, Shanghai Hutchison Pharma, has been granted rights to distribute six prescription TCM drugs in China. The drugs, which have annual sales of $7 million, are made by Shanghai Traditional Chinese Medicine, Chi-Med’s partner in the JV. According to Chi-Med, the six-drug package is part of a restructuring of the drug distribution JV, which does not change its equity structure, but allows an “expansion of its business scope.” Chi-Med did not elaborate. More details....
Stock Symbol: (AIM: HCM)
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