December 03, 2012 at 06:27 AM EST
Guangzhou Pharma Absorbs Guangzhou Baiyunshan Pharma
In a reshuffling of assets, Guangzhou Pharma Holding is combining two of its companies. Guangzhou Pharma Co. (GPC) will acquire the assets of Guangzhou Baiyunshan Pharma. The surviving company, GPC, currently has a market capitalization of $2.2 billion. It is known mainly for its TCM products. Baiyunshan makes APIs for chemical drugs, especially antibiotics, and also produces TCM materials and finished TCM products. Its market capitalization is $1.2 billion. The share prices of both companies dropped 10% today after the purchase was given regulatory approval. More details.... Stock Symbols:  (SHA: 600332) (SHE: 000522) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});  
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