News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Genesis Pharmaceuticals Enterprises, Inc. Buys TCM Manufacturer for $12.2 Million


2/5/2009 10:38:11 AM

February 2, 2009 -- Genesis Pharmaceuticals Enterprises (????) will pay $12.2 million to acquire most of the assets of Shandong Chinese Traditional Medicine College and its wholly owned subsidiary, Hongrui Pharmaceuticals, Ltd. Hongrui brings with it a portfolio of 22 TCM drugs. In the first twelve months after the acquisition closes, Genesis expects the Hongrui products will increase revenues by 150 million RMB ($19.2 million). Net income should climb by about 24 million RMB ($3 million) during the same period. More details...

Read at ChinaBio Today


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES