No menu items!
More
    HomeSample Page
    Array

    Sample Page Title

    -


    107476760

    Bengaluru: Hong Kong-listed Sino Biopharmaceutical will sell a 67 per cent stake in unit CP Pharmaceutical (Qingdao) for 1.82 billion yuan ($253.28 million) to entities controlled by state-owned Guoxin Group, the company said late on Tuesday.

    Sino Biopharmaceutical will keep a 26 per cent stake in CP Qingdao after the disposal, the pharmaceutical conglomerate said in a filing to the Hong Kong Stock Exchange.

    CP Qingdao, established in China, is mainly involved in research and development, production and sale of osteoporosis medicines and marine pharmaceuticals.

    Through the deal, Guoxin Group plans to enter the life and health industry characterised with marine biological pharmaceuticals, Sino Biopharmaceutical said.

    The company expects to record a gain of about 1.60 billion yuan on the disposal, subject to audit. ($1 = 7.1858 Chinese yuan)

    • Published On Feb 7, 2024 at 10:49 AM IST

    Join the community of 2M+ industry professionals

    Subscribe to our newsletter to get latest insights & analysis.

    Download ETHealthworld App

    • Get Realtime updates
    • Save your favourite articles


    Scan to download App
    health barcode



    Source link

    TrandyNewzhttps://news.programsmagic.com
    We provide news from a variety of sources and platforms. As a result, you will be able to keep up with the most recent news on a daily basis

    Related articles

    Stay Connected

    0FansLike
    0FollowersFollow
    27FollowersFollow

    Latest posts