Shanghai Pharma Buys Majority Stake in Fellow Drug Distributor

Shanghai Pharmaceuticals Holding will buy a majority 55% stake in China Health System (CHS), which will help the company expand its drug distribution business in North China. CITIC Pharmaceutical Group, one of the top three pharma distributors in China, is a subsidiary of CHS. After the acquisition, Shanghai Pharma will be the second largest drug distributor in China. More details.... Stock Symbol: (SHEX: 601607)