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China Medicine Acquires Guangzhou LifeTech for $8.3 Million

publication date: Oct 30, 2009
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China Medicine Corporation has acquired Guangzhou LifeTech Pharmaceuticals Co. Ltd., a producer of pharmaceuticals products and TCMs, for 57 million RMB ($8.3 million) in cash plus the assumption of 89.8 million RMB ($13.2 million) in debt. China Medicine appraised LifeTech’s assets at 174 million RMB ($25.6 million), including manufacturing facilities and a portfolio of 39 TCM and Western medicine products. More details...

Stock Symbol: (OTCBB: CHME)

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