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Sanjiu Pharma to Bid up to $110 Million for Shunfeng Pharma

publication date: Jan 20, 2012
Sanjiu Medical and Pharmaceutical expects to spend between 600 and 700 million RMB ($94.7 - $110.5 million) in its bid for a 99.83% stake in Shandong Shunfeng Pharmaceutical, the beleaguered medicated skin care company. Shufeng Pharma has put itself up for auction because disgruntled shareholders are upset with the company’s management. It established a 600 million RMB base price. Sanjiu asked shareholders for permission to spend up to 700 million RMB on the acquisition. More details....

Stock Symbol: (SHE: 000999)

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