Shanghai Pharma Spends $570 Million for Two Acquisitions

Shanghai Pharmaceuticals Holding plans to spend 3.8 billion RMB ($570 million) to buy two China drug distribution-manufacturing companies. In one deal, Shanghai Pharma will pay 1.5 billion RMB ($225 million) for the antibiotics business of its parent company, Shanghai Pharmaceutical Group. And it finalized the terms on a previously announced transaction, acquiring 65% of China Health System (CHS) for 2.3 billion RMB ($345 million). More details.... Stock Symbol: (SHEX: 601607)