China Drug Distributor Sinopharm To Sell Shares To Expand Sales Network
This article was originally published in PharmAsia News
Executive Summary
China's major drug distributor, Sinopharm Group, plans to sell shares to raise U.S.$515.3 million to enable expansion of its sales network as part of an effort an analyst said was needed to enable the firm to continue growing.
China's major drug distributor, Sinopharm Group, plans to sell shares to raise U.S.$515.3 million to enable expansion of its sales network as part of an effort an analyst said was needed to enable the firm to continue growing. Sinopharm said it plans to use the funds to expand both its distribution and retail networks. China's National Pharmaceutical Group is expected to retain control of the company despite the sale, Sinopharm said in a statement. (Click here for more
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"Sinopharm Falls On $515 Million Share-Sale Plan: Hong Kong Mover" - Bloomberg (U.S.) (3/28/2013)