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Tongjitang Chinese Medicines Acquired by Winteam for $393 Million

publication date: May 27, 2013
Tongjitang Chinese Medicines will be bought by Winteam Pharmaceutical Group at a price of $393 million. Both companies focus on TCM drugs for markets in mainland China. The price represents a substantial profit for Xiaochun Wang, Tongjitang’s President and CEO, who, along with Fosun Pharma, took the company private two years ago at a price of $138 million. Earlier this year, Sinopharm, China’s largest pharma enterprise, bought a 57% stake in Winteam for $252 million. More details....

Stock Symbols: (HK: 570) (SHA: 600196; HK: 2196)

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