August 13, 2007 – Sinobiomed (OTCBB: SOBM.OB) of Shanghai paid $2.4 million to buy a 90% interest in Suzhou Boai Medical Development Company, which distributes pharmaceuticals from its Suzhou hub to southern and eastern China. Suzhou Boai produced $18 million in revenue in 2006, and it has already had sales of $11 million in the first half of 2007. Sinobiomed plans to buy a second distributor to cover northern China. More details...
