Mergers & Acquisitions
Tongjitang Chinese Medicines Announces Definitive Purchase Agreement to Acquire Qinghai Pulante Pharmaceutical Company
Published in Medical Letter on the CDC and FDA, April 13th, 2008
Tongjitang Chinese Medicines Company (NYSE: TCM) ("Tongjitang" or the "Company"), a leading specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China, announced that it has signed a definitive purchase agreement to acquire Qinghai Pulante Pharmaceutical Co. Ltd. ("Pulante"), a privately owned plant-based pharmaceutical company. The Company anticipates that consideration for the acquisition will be in cash, with an initial payment of approximately RMB 25.5 million. Tongjitang will make additional payments over the next three years based on Pulante's financial and operational performance. The...
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