Nepstar Acquires Ningbo Xinshiji Pharmaceutical’s Drug Chain 

Nepstar, China's largest drug retailer, has signed an agreement to acquire Ningbo Xinshiji Pharmaceutical's chain of 68 drugstores at 30 million yuan ($4.2 million). This represents Nepstar's first acquisition after its listing overseas. Ningbo Xinshiji's drug chain sales hit about 50 million yuan ($7 million) in 2007, ranking third in Ningbo, Zhejiang Province, according to 2006 statistics. After finalizing the transaction in March, Nepstar will become the biggest drug chain in Ningbo. A company official said that this acquisition marks Nepstar's first step toward integrating the retail chain drugstore; it will seek more targets nationwide to speed up its growth and market expansion. (Click here for more - Chinese Language)