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Lansen Pharmaceutical buys 20% stake in Chinese company

China's Lansen Pharmaceutical Holdings Ltd. said it bought a 20% stake in Tianjin Robustnique Biotechnology Co. Ltd., a producer of cosmetics and biological skincare products that also operates in the country.

Lansen Pharmaceutical, an investment holding company that develops, produces and sells specialty pharmaceuticals, paid 14 million Chinese yuan for the stake.

London-listed Cathay International Holdings Ltd., an investment holding company that invests in China's healthcare sector, owns a little over half of Lansen Pharmaceutical.

As of Dec. 28, US$1 was equivalent to 6.88 Chinese yuan.