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Fosun Pharma rises on acquisition deal

(Xinhua)
Updated: 2009-11-19 15:16

Shanghai Fosun Pharmaceuticals (Group) Co, or Fosun Pharma, rises slightly Thursday morning at the Shanghai Stock Exchange after it announced to have bought stake in the Nasdaq-listed Chindex International Inc.

Fosun Pharma shares gained 0.28 percent to 21.20 yuan ($3.1) in the morning trading session.

Related readings:  Fosun hikes stake in Tongjitang  Fosun increases stake in Focus Media before Sina acquisition

A Hong Kong-based subsidiary of Fosun Pharma, a leading Chinese pharmaceutical company, paid $22 million for 11.18 percent stake in Chindex International Inc, a US-based medical services and instruments provider, according to its statement to the Shanghai Stock Exchange on Thursday.

Chindex International Inc. closed at $15.87 per share at Nasdaq on Wednesday, down 1.18 percent from the previous close.

For the first half of 2009, Fosun Pharma's net assets per share was 3.40 yuan, earning 0.28 yuan per share, and its operating revenue increased 8.23 percent year on year to 1.8 billion yuan.

Fosun Pharma mainly focuses on research, development, production and distribution of pharmaceutical products in China.