Tianjin Zhongxin Pharmaceutical Group Acquires Zhongxin Medicine Chain
This article was originally published in PharmAsia News
Zhongxin Pharmaceuticals recently announced the transfer of its subsidiary Zhongxin Medicine Chain Branch Company to its large shareholder Tianjin Zhongxin Pharmaceutical Group's drug distributor at 49.26 million yuan. As the biggest chain drugstore in Tianjin, Medicine Chain had attracted offers from China's major drug retailers such as Nepstar and Beijing Golden Elephant Chain Drugstore. Observers believe Zhongxin Pharmaceuticals' decision arose from its worries that Medicine Chain will not distribute its products once acquired by a competitor. Zhongxin Pharmaceuticals also said it may buy back Medicine Chain when the latter becomes profitable again. Tianjin is regarded a huge potential market for retail drugs, a fact borne out by the presence of pharmaceutical distributors such as Kaixinren, Laobaixing and Nepstar. (Click here for more - Chinese Language)
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