by Richard Daverman, PhD
May 27, 2013 -- Tongjitang Chinese Medicines will be bought by Winteam Pharmaceutical Group at a price of $393 million. Both companies focus on TCM drugs for markets in mainland China. The price represents a substantial profit for Xiaochun Wang, Tongjitang’s President and CEO, who, along with Fosun Pharma, took the company private two years ago at a price of $138 million. Earlier this year, Sinopharm, China’s largest pharma enterprise, bought a 57% stake in Winteam for $252 million. More details....
Stock Symbols: (HK: 570) (SHA: 600196; HK: 2196
