Northeast Pharmaceutical Group To Give Up Stake In ShenYang TCM Pharmaceutical
This article was originally published in PharmAsia News
The Shenyang Property Rights Transaction Center's information shows that Northeast Pharmaceutical Group plans to transfer its 20 percent stake in ShenYang TCM Pharmaceutical at a price of RMB 35 million ($5.1 million). ShenYang TCM Pharmaceutical, a Sino-British joint venture, is one of China's key TCM pharmaceutical companies. It mainly engages in Chinese patent medicine R&D, processing and manufacturing; TCM extraction; herbal medicine processing; as well as medicinal raw material purchasing. The firm's major product Shenyang Hongyao has become a renowned brand in the nation's TCM industry. A manager of the transaction reveals that Northeast Pharmaceutical Group's move stems from investment restructuring, which will focus the development of its core chemical medicine business. (Click here for more - Chinese Language)
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