Fosun Pharmaceutical Buys Stake In Tongjitang Chinese Medicines
This article was originally published in PharmAsia News
Executive Summary
Fosun Enterprises, a subsidiary of Fosun Pharmaceutical, recently paid $7.42 million for 5.73 percent stake in Tongjitang Chinese Medicines. Fosun Pharmaceutical explained that the move was mainly for investment purposes; however, it does not discount keeping, increasing or selling the stock in future. Industry analysts think the deal may bring hope to Tongjitang, which has considered delisting from the New York Stock Exchange due to below-expectation performance since its listing in April 2007. (Click here for more - Chinese Language)
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Fosun Enterprises, a subsidiary of Fosun Pharmaceutical, recently paid $7.42 million for 5.73 percent stake in Tongjitang Chinese Medicines. Fosun Pharmaceutical explained that the move was mainly for investment purposes; however, it does not discount keeping, increasing or selling the stock in future. Industry analysts think the deal may bring hope to Tongjitang, which has considered delisting from the New York Stock Exchange due to below-expectation performance since its listing in April 2007. (Click here for more - Chinese Language) "Fosun Pharmaceutical Pays $7.42 Million For 5.73 Percent Stake In Tongjitang Chinese Medicines" - hexun.com (10/20/08) |