Huadong Medicine To Acquire Stake In Two Pharmaceutical Firms
This article was originally published in PharmAsia News
Huadong Medicine has proposed allocating 98 million yuan ($13.9 million) to purchase 78.87 percent of Xi'an Bodyguard Pharmaceutical's stake and 65 percent of Shaanxi Jiuzhou Pharmaceutical's shares. According to Huadong Medicine officials, the two candidate companies possess the capability to produce pharmaceutical raw materials and preparations, as well as expand manufacturing to effectively alleviate Huadong Medicine's tight production situation. Xi'an Bodyguard's antiprotozoal product ornidazole enjoys major market share in China, while Jiuzhou Pharmaceutical has obtained approval to make strictly controlled narcotic drugs that enjoy monopoly in the country. (Click here for more - Chinese Language)
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