trending Market Intelligence /marketintelligence/en/news-insights/trending/k7XLvZ_6xcY_2gM_llHjRQ2 content esgSubNav
In This List

Sinopharm Group to buy drug retailer for 217.5M yuan

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Sinopharm Group to buy drug retailer for 217.5M yuan

Sinopharm Group Co. Ltd. agreed to buy drug retailer Shanghai Pudong New Area Medicines and Herbs Co. Ltd. from China National Pharmaceutical Group Corp. for 217.5 million yuan in cash.

The China-based company said it will pay the consideration amount in a lump sum within three working days.

Sinopharm will also assume the responsibility for Shanghai Pudong's 30 million yuan loan taken from Industrial and Commercial Bank of China.

China National Pharmaceutical Group is the ultimate controlling shareholder of the Sinopharm Group.

As of Nov. 24, US$1 was equivalent to 6.60 yuan.