Yu Sheng Tang Pharma to Buy Stake in Japanese TCM Company

Beijing Yu Sheng Tang Pharmaceutical Group signed a memorandum of understanding to purchase 70% of Nihon Seiyaku Kogyo for HK$58.82 million ($7.6 million US), a Japanese herbal drug company. Both companies produce TCM-based flu drugs. Yu Sheng Tang Pharma, based in Hong Kong, manufactures a prescription TCM called Jinhua Qinggan that treats flu including H1N1, which it distributes in China. More details... Stock Symbol: (HK: 1141)