Tongjitang Chinese Medicines Company (同济堂药业) will acquire Anhui Jingfang Pharmaceutical Co. Ltd., a privately owned company, for 60 million RMB ($8.8 million). Like Tongjitang, Jingfang is a TCM drug company with products in the orthopedics and geriatrics markets. Jingfang's product portfolio includes more than thirty Western and traditional Chinese medicines. The company is profitable, producing revenue of 56 million RMB in 2007, which fell to 41 million RMB in 2008. More details...

Stock Symbol: (NYSE: TCM)