Zhejiang Huahai Raises $126 Million for New Production Facility

Published: May 03, 2013

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by Richard Daverman, PhD

May 2, 2013 -- Zhejiang Huahai Pharma will offer 63.3 million shares at a price of 12.25 RMB each, raising 775 million RMB ($126 million) in a secondary offering. It will use the capital to build a new 1.5 billion RMB ($240 million) manufacturing facility for Diovan (valsartin) and other solid preparations for export. Diovan is an angiotensin receptor blocker that dilates blood vessels and is used to treat high blood pressure. More details....

Stock Symbol: (SHA: 600521)

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