Shanghai Pharmaceuticals, an active drugmaker and one of China’s big three drug distributors, will form an on-line drug distribution JV. The new JV will be known as Shanghai Pharmaceuticals Greater Health Online Company. Shanghai Pharma will invest $11 million in the JV and Zhongxie Pharma will invest another $5 million (Shanghai Pharma has a 22% stake in Zhongxie). Zhongxie, a direct-to-patient drug company, will run the new on-line venture.
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