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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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»25/02/2010 [Industry news]
CCBC to acquire stake in Shandong Cord Blood Bank

China Cord Blood Corporation, the first and largest cord blood bank operator in China, in terms of geographic coverage, announced that as part of its nationwide expansion strategy, it has entered into an agreement to acquire 19.92 percent equity interest in Shandong Cord Blood Bank (SCBB) for $20.5 million in cash.

 
China Cord Blood Corporation, the first and largest cord blood bank operator in China, in terms of geographic coverage, announced that as part of its nationwide expansion strategy, it has entered into an agreement to acquire 19.92 percent equity interest in Shandong Cord Blood Bank (SCBB) for $20.5 million in cash. For the year ending December 31, 2010, CCBC\'s equity interest in SCBB is expected to yield dividend income of $1.04 million. In China, the government enforces a one-license-per-region policy for operating cord blood banks, and so far it has only granted six licenses nationwide, noted the company release. Of those six, CCBC holds two (to operate in Beijing and Guangdong Province) and this acquisition grants access to the third. Ms. Tina Zheng, Chairperson and CEO of CCBC, said, \"We are very excited about the prospects of China\'s cord blood storage industry, given its unique business environment and the size of its addressable market. This strategic expansion will increase CCBC\'s competitive advantage by enlarging the size of our potential market to three provinces with over 2.1 million new births per annum, representing growth of 1.1 million new births per annum. This, in turn, is expected to further drive CCBC\'s business growth and reinforce our dominance in China.”

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