Sanjiu Pharma to Bid up to $110 Million for Shunfeng Pharma  
1/20/2012 11:23:17 AM

January 20, 2012 -- Sanjiu Medical and Pharmaceutical expects to spend between 600 and 700 million RMB ($94.7 - $110.5 million) in its bid for a 99.83% stake in Shandong Shunfeng Pharmaceutical, the beleaguered medicated skin care company. Shufeng Pharma has put itself up for auction at a minimum 600 RMB price because disgruntled shareholders are upset with the company’s management. Sanjiu asked shareholders for permission to spend up to 700 million RMB on the acquisition. More details....

Stock Symbol: (SHE: 000999)