Tongjitang Chinese Medicines Company (TCM) will pay 42.2 million RMB ($5.6 million) to purchase Guizhou Long-Life Pharmaceutical Company Ltd. Like Tongjitang, Guizhou produces and markets traditional Chinese medicines. Last year, its ten over-the-counter and prescription medications produced 50 million RMB ($6.6 million) in revenue. Tongjitang said Guizhou was profitable, though it did not provide specific figures. More details...
