Shanghai Pharmaceutical Co., Ltd. Acquires Jiangsu Drug Distributor for $53.8 Million  
8/19/2011 10:40:16 AM

August 19, 2011 -- Shanghai Pharmaceutical will pay 344 million RMB ($53.8 million) to buy an 80% stake in Shanhe Pharmaceutical, a drug distributor in Jiangsu Province. The company is headquartered in Wuxi, and it has operations in the major cities of Suzhou, Changzhou and Wuxi.The company will change its name to Shanghai Shanhe Wuxi Pharmaceutical to reflect its new ownership. More details....

Stock Symbols: (SHA: 601607; HK: 2607)