Shanghai Pharma buys Cardinal Health's China business for US$557m
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Hong Kong
SHANGHAI Pharmaceuticals Holding Co has agreed to buy Cardinal Health Inc's China drug distribution business for US$557 million, winning a highly competitive auction in a move that will greatly expand its presence nationwide.
The deal will also help Shanghai Pharma, China's third largest drug distributor, become a leading importer of foreign medicine into the world's second largest drug market.
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