Cardinal Health Buys China Drug Distributor Zuellig Pharma

Cardinal Health made a major foray into the China pharma distribution business by paying $470 to acquire privately held Zuellig Pharma China, a China drug distribution company with annual revenues of over $1 billion. Cardinal said that almost all of the multinational pharmas work with Zuellig in China. Zuellig China is a subsidiary of Zuellig Pharma, a Hong Kong company that distributes drugs in 17 Asian countries. Known locally as Yong Yu, Zuellig Pharma is the largest importer of drugs in China. More details.... Stock Symbol: (NYSE: CAH)