Sanjiu Medical & Pharmaceutical Co., a unit of China Resources, will pay $209 million to acquire Zhejiang Zhongyi Pharmaceutical. Zhongyi makes many generic chemical drugs and TCM products.
Zhong Yi creates tablets, capsules, granules, pharmaceutical raw materials and other production lines. The firm's main products include azithromycin enteric-coated capsules (Caramel Shu), erythromycin enteric-coated capsules (American Red), magnesium Alcan chewable tablets (CD Camry) , olsalazine sodium capsules (Pasi Tan), West to iodine tablets (all benefits of this Code), tetrandrine tablets and desloratadine tablets.
The deal is occurring in a backdrop of China's expanding and ever lucrative biotechnology industry, as the government continues to support the industry to create a top-notch industry to compete on the world stage. As China continues to shift its economy from an industry and manufacturing hub to a services and high tech country, we can expect more does of the similar nature occurring in China for the next few years.