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Competition Between Drug Distributors Sinopharm Group and Shanghai Pharmaceutical Co., Ltd. Heats Up in Zhejiang Province


3/25/2011 10:09:17 AM

March 24, 2011 -- Sinopharm Group announced it will acquire Zhejiang Wenling Drug Materials, based in Taizhou, Zhejiang province. Wenling, whose yearly revenues have averaged 1.1 billion RMB ($168 million) over the past three years, generates 90% of its business by selling to hospitals. The acquisition amped up a competition in Zhejiang between Sinopharm and its chief drug rival in the drug distribution sector, Shanghai Pharmaceuticals Holding. More details....

Stock Symbols: (HK: 1099) (SHE: 601607)


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