China Meheco To Acquire Holley Pharmaceuticals’ Subsidiary
This article was originally published in PharmAsia News
Executive Summary
China Meheco has signed an in-principle agreement with the shareholders of Beijing Holley Jiuzhou Pharmaceuticals to acquire 100 percent of the firm with cash. Holley Jiuzhou is 88.24 percent owned by Holley Pharmaceuticals (Chongqing) and 11.76 percent held by HolleyPharm's investment arm. The purchase, if approved by the three parties' respective boards and majority shareholders, will facilitate China Meheco's expansion of its drug distribution network and business. The company expects the acquisition to help it achieve sales revenue and profit of 1 billion yuan and 5 million yuan respectively. (Click here for more - Chinese Language)