Shanghai Pharmaceutical Co., Ltd. Wants to Acquire US or European Pharma

August 16, 2011 -- Shanghai Pharmaceuticals is seeking to acquire a mid-sized US or European drugmaker, according to the company’s Chairman, Mingfang Lu. Shanghai Pharma wants to enlarge its supply of innovative drugs, he said, because the company sees patented products as a hedge against the price pressures affecting generic drugs in China. Lu summarized the situation by saying, "We hope to make structural improvements to our product portfolio by raising the proportion of innovative drugs, so as to better weather industry risks in the future.” More details....

Stock Symbol: (SHA: 601607)