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Shyndec Pharma Pays $49 Million for 30% of Rongsheng Pharma

publication date: Feb 28, 2014
Shanghai Shyndec Pharmaceutical will acquire the 30% stake in Sinopharm Rongsheng Pharma it doesn’t already own for $48.8 million. Before the transaction, Rongsheng was already contributing almost half of Shyndec’s profits. The closing of the transaction will raise Shyndec’s profits by 20%. Both companies are part of China’s state-owned pharmaceutical giant Sinopharm. More details....

Stock Symbol: (SH: 600420)

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