June 22, 2007 -- Harbin Pharmaceutical Group Company Ltd. is the largest pharmaceutical company in China, currently worth 20.5 billion yuan ($2.6 billion). In late 2004, the company received a $250 million cash infusion, from three private equity funds including Warburg Pincas. That 55% stake is now worth a much-improved $1.43 billion, and there are rumors that Harbin will list its shares on a foreign exchange, allowing the equity investors to recoup some of their capital. We look at the situation...
