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Sinopharm Group Buys 57% of Winteam Pharma for $252 Million


3/4/2013 10:54:31 AM

by Richard Daverman, PhD

March 1, 2013 -- Sinopharm, China’s giant state-owned pharmaceutical company, has closed the purchase of a 57% stake in Winteam Pharmaceutical Group Ltd. Sinopharm paid about $252 million to make the acquisition. Winteam, whose headquarters are in Hong Kong, operates in mainland China. The company makes TCM preparations, western-style chemical drugs and biologics. The acquisition builds Sinopharm’s portfolio, especially in the area of TCM drugs. More details.....

Stock Symbol: (HK: 0570)


Read at ChinaBio Today


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