Kelun Buys 85% of Guojing Pharma for $37 Million

Sichuan Kelun Pharmaceutical will acquire an 85% stake in Zhejiang Guojing Pharmaceutical for 246.5 million RMB ($37 million). Guojing Pharma is known for its infusion products, which is also Kelun’s specialty, though Kelun calls itself an IV company. In May, Kelun staged a $735 million IPO on the Shenzhen exchange (see story), and now some of the proceeds are helping to consolidate China’s highly diversified pharma landscape. More details.... Stock Symbol: (SHEX: 002422)