No merger yet between Guangzhou Pharmaceutical and Guangzhou Baiyunshan, GBI

Release Date: 2009-08-26

Both Guangzhou Pharmaceutical Company (SHA: 600332) and Guangzhou Baiyunshan Pharmaceutical (SHE: 000522) suspended trading for one day (August 24), www.21cbh.com reported August 25. Insiders believe this may be related to issues surrounding Guangzhou Pharmaceutical's interest in acquiring Guangzhou Baiyunshan. Officials from both companies deny the rumor.

According to the report, although Guangzhou Pharmaceutical Company is interested in Guangzhou Biayunshan, staff management and finance issues on both sides have stalled a deal. Baiyunshan's problems stem from wide differences in management system, product focus, and annual profits among its subsidiaries. Guangzhou Pharmaceutical is still in the midst of changing its marketing focus from distributors to hospitals, and has overstocked drug inventories that need clearance.
Type: NORMAL
Company: GBI
Country: China
Url: http://www.gbipharma.com/cpbheadline.asp?newsid=2010486
 
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