Shanghai Pharma buys U.S. Cardinal Health’s China business for $557 million

3 months ago

(Reuters) – State-owned Shanghai Pharmaceuticals Holding Co (601607.SS) has agreed to acquire Cardinal Health Inc’s (CAH.N) China business, one of the nation’s largest drug distributors, for $557 million (423.93 million pounds).

The deal, which includes shareholder loans, gives the China unit an enterprise value of $1.2 billion.

Reporting by Julie Zhu; Editing by Edwina Gibbs

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