China Traditional Chinese Medicine Co. Ltd. will pay as much as $1.3 billion for an 81.5% stake in Jiangyin Tianjiang Pharmaceutical Co., a rival TCM company. Once combined, the two companies will claim a greater than 50% share in China’s concentrated TCM granules market. China TCM, formerly known as Winteam Pharma, is a part of the sprawling state-owned China National Pharmaceutical Group Corporation (Sinopharm), which continues to hold a 40% stake in China TCM.
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