Shanghai Pharmaceuticals to Buy Cardinal Health's Unit for US$557 Million
November 14 2017 - 8:30PM
Dow Jones News
By Joanne Chiu
Shanghai Pharmaceuticals Holding Co. (2607.HK) plans to buy the
pharmaceutical distribution network of U.S. company Cardinal Health
Inc. in Hong Kong and mainland China for US$557 million.
The Hong Kong listed pharmaceutical company said Wednesday that
it has agreed to buy the entire interest in Cardinal Health's unit
-Cardinal Health (L) Co. in a bid to broaden the coverage of its
distribution network in China and build up direct-to-pharmacy chain
with specialty brands.
Cardinal Health (L) Co. operates 14 direct sales companies and
17 distribution and operation centres in China with a total storage
area of around 146,000 square meters and around 7,000 square meters
cold storage capacity, it said.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
November 14, 2017 20:15 ET (01:15 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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