C&O Acquires Chinese Distributor, Goodwin Healthcare Signs Product Deal

Hong Kong-based drug manufacturer C&O Pharmaceutical Technology Holdings Limited has acquired China-based drug distributor Shenzhen Liancheng Medicine. The CNY45mn (US$5.6mn) deal for Liancheng provides C&O with a wholly owned subsidiary licensed to distribute pharmaceutical products in mainland China. Before the Chinese government repealed the law in 2004, it was illegal for foreign companies to own drug distributors on the Chinese mainland. In other developments, C&O also announced a CNY3.7mn acquisition of R&D firm Shanghai Sun-sail Pharmaceutical Science and Technology Limited.

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