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Gansu Duyiwei Pays $16.6 Million for Sichuan Huaji Pharma


11/8/2013 11:07:57 AM

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by Richard Daverman, PhD

November 8, 2013 -- Gansu Duyiwei Biological Pharma acquired Sichuan Huaji Pharmaceutical, a private TCM company owned by three individuals, for 101 million RMB ($16.6 million). In 2012, Sichuan Huaji Pharma reported revenue of only 14.6 million RMB ($2.4 million) and profit of 1.3 million RMB ($210,000), making the price seem very high relative to the company’s financial performance. Sichuan Huaji manufactures extraction devices for decocting TCM raw ingredients from plants. It also makes agricultural products. More details....

Stock Symbol: (SHE: 002219)

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