Shanghai Pharma Acquires Cardinal's China Drug Distribution Business for $1.2 Billion

Shanghai Pharma paid $1.2 billion to win the bidding war for Cardinal Health's China drug distribution operations. Cardinal was China 's eighth-largest drug distribution company, with $3.5 billion in 2016 China revenues, while Shanghai Pharma is number three. After the companies are combined, Shanghai Pharma will become number one. In 2010, Cardinal got a foothold in the China market by paying $440 million to acquire Zuellig Pharma, a company that in-licensed China marketing rights to western drugs. More details.... Stock Symbols: (SHA: 601607) (NYSE: CAH) Share this with colleagues: // // <br