Sanjiu Medical Buys Four Small Pharmas for $65 Million

September 29, 2011 -- China Resources Sanjiu Medical and Pharmaceutical will pay $65.2 million to acquire four small drug companies: Liaoning Huayuan Benxi SanYao, Hefei Shenlu Shuanghe Pharmaceutical, Beijing Shuanghe Gaoke Pharmaceutical, and Beijing Beimao Pharmaceutical. Together, the four companies produced a profit of 20 million RMB last year ($3.2 million), yielding a purchase price of 20 times net income. More details.... Stock Symbol: (SHE: 000999)