China Medicine Corp. buys LifeTech
This article was originally published in The Tan Sheet
China Medicine Corp. adds 39 traditional Chinese and Western medicines to its portfolio with the $8.3 million acquisition of Sinoform Ltd. and its subsidiary LifeTech Pharmaceuticals. The deal, expected to close by the end of the year, will add between $10 million and $12 million in revenues to China Medicine in 2010, the prescription and OTC drug distributor says Oct. 30. It also expects the acquisition of the British Virgin Islands firm to generate a net profit margin of at least 40 percent in 2010
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