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Shanghai Pharma Acquires Cardinal's China Drug Distribution Business for $1.2 Billion

publication date: Nov 15, 2017

Shanghai Pharma paid $1.2 billion to win the bidding war for Cardinal Health's China drug distribution operations. Cardinal was China's eighth-largest drug distribution company, with $3.5 billion in 2016 China revenues, while Shanghai Pharma is number three. After the companies are combined, Shanghai Pharma will become number one. In 2010, Cardinal got a foothold in the China market by paying $440 million to acquire Zuellig Pharma, a company that in-licensed China marketing rights to western drugs. More details....

Stock Symbols: (SHA: 601607) (NYSE: CAH)



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