Tokyo, Oct 15, 2009 (JCN Newswire) - Mitsubishi Corporation, MEDIPAL HOLDINGS CORPORATION, and major, Shanghai-based Chinese pharmaceutical distributor and whole-seller Sinopharm Group Co., Ltd. have signed a memorandum for a comprehensive strategic alliance. To begin this alliance, Mitsubishi and MEDIPAL have purchased shares of Sinopharm Group Beijing HuaHong Co., Ltd. (Huahong) from Sinopharm Group and Beijing ChangXinYiDa Investment Consulting Co., Ltd. (ChangXinYiDa) and undertaken an increased issuance of Huahong stock. Through this joint venture investment, Mitsubishi and MEDIPAL plan to make inroads into China's pharmaceutical distribution and wholesales business.
