Larsen Buys 20% of Zhejiang Starry Pharma

Lansen Pharmaceutical will purchase 20% of Zhejiang Starry Pharmaceutical Co. from an individual for 160 million RMB ($24 million). Starry, a bulk pharmaceutical and intermediate company, is the largest manufacturer of the contrast agent iohexol in the PRC. For the year ended 31 December 2009, Starry’s profit after taxation was$9 million, and it listed net asset value of $30 million. More details.... Stock Symbol: (HKEX: 0503)