Jiangsu Kanion Pharma Gains Control of a Fellow TCM Maker

Jiangsu Kanion Pharmaceutical will add an additional 33% stake in Jiangsu Nanxing Pharmaceutical to its existing 30% holding in the company, giving it 63% ownership and majority control. Kanion is buying the shares from Lianyungang Jiandian Technology for 81.4 million RMB ($12 million). Both companies are involved in producing TCM products. More details... Stock Symbol: (SHEX: 600557)