Founder Group May Bid For Chongqing Medicines
This article was originally published in PharmAsia News
Chongqing Chemical & Pharmaceutical Holding (Group) Co. may be divesting strategic partner Sichuan Dikang's 43 percent equity in subsidiary Chongqing Medicines after Dikang pulled out of its investor agreement. This leaves the field open for Founder Group, which previously failed in its bid to invest in Chongqing Medicines, to take over the shares and become one of the largest pharmaceutical corporations in southwest China. Founder attained 47.3 percent share of Southwest Synthetic Pharmaceutical Corp. in 2003, then took over control of Chongqing Daxin Pharmaceutical Co.; these two enterprises form part of Chemical & Pharma's stable. Both achieved better performance after Founder's buy-in, and the track record will favor Founder's pursuit of Chongqing Medicines. (Click here for more)
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