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CITIC Group Buys Stake In China Central Pharmaceuticals

This article was originally published in PharmAsia News

Executive Summary

CITIC Asset Management, a subsidiary of CITIC Group, has injected RMB 100 million into China Central Pharmaceuticals' subsidiary Wuhan Pharmaceutical Group. China Central plans to go public the second half of 2009 on Hong Kong's main board but it does not discount listing on other stock markets. Upon China Central's listing as a full entity, CITIC Asset Management will become one of its shareholders by share swap. The investor expresses confidence in China Central's business model; the latter is forming an alliance of pharmaceutical distributors to strengthen their bargaining power in the industry. So far, 53 distribution companies covering major cities and regions across China have participated in the scheme. (Click here for more - Chinese Language)
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