August 27, 2008 -- China Botanic Development Holdings Limited paid 23.6 million RMB ($3.4 million) to purchase all of Guangdong Kangli Pharmaceutical Company Limited, a company involved in the direct sales of medicine, health care products and equipment in China. China Botanic is a manufacturer of packaged foods, but it has recently been diversifying into pharmaceuticals. China Botanic was drawn to Guangdong Kangli because the company has a license to sell health care products directly to consumers and another license to sell pharmaceuticals on the internet. More details...Stock Symbol: (HKEX: 2349)
