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Double-crane Pharmaceutical Seeks More Acquisitions

This article was originally published in PharmAsia News

Executive Summary

Beijing Double-crane Pharmaceutical has disclosed plans to achieve by 2010 revenue of 8 billion yuan. Of this, pharmaceutical income will contribute to 5 billion yuan, double the 2.2 billion yuan earned in 2007. Parent company Beijing Pharmaceutical Group has announced that it will increase sales to 30 billion yuan by 2010 from 20.45 billion yuan in 2007; this means key subsidiary Double-crane will need to greatly improve its performance to reach its target. Double-crane is approaching several firms with complementary business for possible acquisitions. An analyst notes that the company will probably look at intravenous product makers to further reinforce its number one position in the sector. (Click here for more - Chinese Language)
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