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Nepstar Fails To Acquire Wulin Drugstore

This article was originally published in PharmAsia News

Executive Summary

With no firm agreement reached between the two parties, Nepstar Chain Drugstore has dropped its bid to acquire Hangzhou Wulin Drugstore (PharmAsia News, Sep.15, 08). Wulin Drugstore seeks funding from cash-rich Nepstar, which listed overseas, but industry observers note that the derailed deal may be due to the latter's financial problems, partly caused by the weakened U.S. dollar. The current financial turmoil may have dampened Nepstar's confidence in the drug retail industry, thus its change of mind. However, the firm said that it has enough money from its IPO for expansion and the stock market has little impact on its finances. (Click here for more - Chinese Language)

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