China Medicine Corp. buys LifeTech
This article was originally published in The Tan Sheet
Executive Summary
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