Shyndec Pharma Pays $49 Million for 30% of Rongsheng Pharma

Shanghai Shyndec Pharmaceutical will acquire the 30% stake in Sinopharm Rongsheng Pharma it doesn’t already own for $48.8 million. Before the transaction, Rongsheng was already contributing almost half of Shyndec’s profits. The closing of the transaction will raise Shyndec’s profits by 20%. Both companies are part of China’s state-owned pharmaceutical giant Sinopharm. More details.... Stock Symbol: (SH: 600420) Share this with colleagues: // //