China Medicine Corp. (CHME.OB) to Acquire Pharmaceutical Manufacturer in Guangzhou
China Medicine Corp. is a developer and leading distributor of prescription and over-the-counter drugs, traditional Chinese medicine products, nutritional and dietary supplements, and medical devices and formulations in China. The company announced today that through its wholly-owned subsidiary in China, Konzern Pharmaceuticals, it has signed an equity transfer agreement to acquire 100% of equity interests in Sinoform Limited, a British Virgin Islands corporation which is the sole shareholder of Guangzhou LifeTech Pharmaceuticals. LifeTech Pharmaceuticals is a developer, manufacturer and marketer of pharmaceutical products and traditional Chinese medicines in China. The acquisition is expected to close before the end of the…