Monday, March 4, 2013

Sinopharm acquires 57% stake in Winteam Pharmaceutical Group

Sinopharm, China’s giant state-owned pharmaceutical company, paid $252 million to purchase a 57% stake in Winteam Pharmaceutical Group (HK: 0570). Winteam, whose headquarters are in Hong Kong, operates in mainland China. The company makes TCM preparations, western-style chemical drugs and biologics. The acquisition builds Sinopharm’s portfolio, especially in the area of TCM drugs.