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 02/02/2010
[Industry news]
SPG digests recent acquisitions but still hungry for more, will keep name
Shanghai Pharmaceutical Group (SPG), which is planning for six months of company integration efforts after its recent acquisitions, will retain the same company name going forward.
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Shanghai Pharmaceutical Group (SPG), which is planning for six months of company integration efforts after its recent acquisitions, will retain the same company name going forward. All medical assets post-integration will be injected into Shanghai Pharmaceutical (SHA: 600849) for trading, according to ChinaTimes February 2,
An analyst stated that Shanghai Pharmaceutical Group plans to create a new retail model by expanding its distribution network across the country, and cooperating with the mega-retailer Bailian Group as well as with other local distributors. Xinsheng Ma, chairman of the board of Bailian Group, also stated that the company\'s subsidiary, Shanghai No.1 Pharmacy, may be integrated into SPG, but the timeline is not clear.
In the past year, SPG has received approval to take over Shanghai Pharmaceutical (SHA: 600849), Shanghai Industrial Pharmaceutical Investment (SIPI) (SHA: 600607), and Shanghai ZhongXi Pharmaceutical (SHA: 600842). It was reported January 13 that SPG signed an agreement of strategic cooperation with Bailian Group, a major shareholder of Shanghai No.1 Pharmacy |
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