China Resources Sanjiu Pharma will pay $280 million to acquire Kunming Shenghuo Pharmaceutical Group, a TCM company. Shenghuo has three subsidiaries that interest Sanjiu: Shenghuo Pharma, Shenghuo Cosmetics and Shenghuo Import & Export. Shenghuo's hotel business is not included in the deal. Sanjiu is a listed subsidiary of state-owned company China Resources Pharma, which is expected to stage a $1 billion IPO in Hong Kong soon.
