Competition between Drug Distributors Heats Up in Zhejiang Province

Sinopharm Group announced it will acquire Zhejiang Wenling Drug Materials, based in Taizhou, Zhejiang province. Wenling, whose yearly revenues have averaged 1.1 billion RMB ($168 million) over the past three years, generates 90% of its business by selling to hospitals. The acquisition amped up a competition in Zhejiang between Sinopharm and its chief drug rival in the drug distribution sector, Shanghai Pharmaceuticals Holding. More details.... Stock Symbols: (HK: 1099) (SHE: 601607) Share this with colleagues:   var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});