Sihuan Pharma Pays $371 Million to Buy Rival

Sihuan Pharma will pay 2.4 billion RMB ($371 million) to acquire Dupromise Holdings, a fellow maker of cardio-cerebral vascular drugs. The price, to be paid in installments, is fixed as 12 times the net income of Dupromise’s 2011 net income, with 2.4 billion RMB set as the maximum. The transaction will give Sihuan, already a major player in its market, even more clout. More details.... Stock Symbol: (HKEX: 0460)