Global Pharm Acquires Drug Distributor for $9 Million

Global Pharm Holdings Group paid $9 million to acquire drug distributor Shandong Hua Wei. The acquisition is a good fit because, through subsidiaries, Global Pharm distributes drugs in Anhui and Jilin province, along with Shandong province, Hua Wei’s home base. The transaction will be paid for in Global Pharm stock. The selling shareholders pledged 10% of their shares as a guarantee of Shandong Hua Wei’s 2011 financial performance. More details.... Stock Symbol: (OTCBB: GPHG)     Share this with colleagues: