Shanghai Pharmaceutical Co., Ltd. Subsidiary Buys 51% of Jinhe Biotech
January 10, 2012 -- Shanghai Pharma announced its subsidiary, Shanghai Zhongxi Sunve Pharmaceutical, acquired a 51% stake in Shanghai Jinhe Biotechnology. Sunve produces APIs and intermediates for cancer drugs, and it has over half the China market for taxane APIs. Sunve is expected to report sales of 94 million RMB ($14.9 million) in 2011. The price was not disclosed. More details....
Stock Symbols: (SHA: 601607, HK: 2607)