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CR Pharma in Talks for $613 Million Acquisition of Jiangzhong Pharma

publication date: May 18, 2018

China Resources Pharmaceutical Group is in talks to pay $613 million for a controlling stake in Jiangzhong Group, the country’s fifth largest maker of traditional Chinese medicines. Jiangzhong, which is 42% owned by the Jiangxi provincial government, owns a 43% stake in Shanghai-listed Jiangzhong Pharma, a company with a market capitalization of $1.2 billion. Both CR Pharma and Jiangzhong are State-Owned enterprises, and the transaction, if completed, would help to consolidate/reform China's network of state-owned drugmakers. More details....

Stock Symbols: (HK: 3320) (SHA: 600750)

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