SHENZHEN, China--(BUSINESS WIRE)--Tongjitang Chinese Medicines Company (NYSE: TCM) (“Tongjitang” or the “Company”), a vertically integrated and profitable specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine (“TCM”) in China, today announced that Guizhou Tongjitang Pharmaceutical Company Limited (“Guizhou TJT”), a wholly-owned subsidiary of Tongjitang Chinese Medicines, has entered into a Share Purchase Agreement (“SPA”) with Guizhou Long-Life Pharmaceutical Company Limited (“Guizhou LLF”) to acquire 100% of the registered capital of Guizhou LLF for RMB42.2 million in cash. Tongjitang will also receive certain Intellectual Property assets from shareholders of Guizhou LLF as part of the agreement.
