Press time:2016-07-27From:CR Pharm [Font:BigMediumSmall]
Shenzhen, July 26, 2016--CR Sanjiu (SZEx stock code:000999) today announced that they have entered into a definitive agreement for CR Sanjiu will acquire 100% equity of Kunming Shenghuo Pharmaceutical Group Co.,Ltd. from Lanshi international pharmaceutical investment company and other six companies, for an aggregate transaction value of RMB 1.89 billion.
The agreement signed today will help CR Sanjiu acquire a Chinese Well-Known Trademark“Li Xu Wang”, a famous brand of Xue Sai Tong soft capsules in Chinese market. The brand will supply cardiovascular oral formulation product and enrich cardiovascular system product line of CR Sanjiu. “Li Xu Wang” Xue Sai Tong soft capsules has positive effect and very good market prospect, and is complementary to CR Sanjiu’s existing offering Shenfu injection, to enable further consolidate our resources in cardiovascular area.
The acquisition includes three subsidiaries of Shenghuo Pharmaceutical Group namely: Kunming Shenghuo Pharmaceutical Group Co.,Ltd., Kunming Shenghuo Cosmetics Co., Ltd. and Shenghuo Import and Export Co., Ltd.
