March 21, 2008 -- Tongjitang Chinese Medicines Company (NYSE: TCM) will pay 25.5 million RMB ($3.5 million) to buy Qinghai Pulante Pharmaceutical Co. Ltd. Tongjitang will make unspecified additional payments over the next three years, based upon the sales of Pulante’s products. The business plan for Pulante is based on Tibetan-sourced recipes for TCM. Its lead product is Chongcao Qingfei Capsules, an OTC medication indicated for respiratory diseases, including Chronic Obstructive Pulmonary Disease, which afflicts smokers. More details...
