March 12, 2008 -- China Aoxing Pharma Company, Inc. (OTCBB: CAXG) will pay $19.6 million to buy Shijiazhuang Lerentang Pharmaceutical Company Ltd. (LRT), a company that makes traditional Chinese medicines. Like China Aoxing, LRT concentrates on pain medications. Even though China Aoxing is perpetually short on cash, it did not designate a source for the $10.8 million cash part of the offer. More details...
