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Article Excerpt
GUANGZHOU, China, Oct. 30 /PRNewswire-Asia/ -- China Medicine Corporation (BULLETIN BOARD: CHME) ("China Medicine" or "the Company"), a developer and leading distributor of prescription and over-the-counter pharmaceuticals, traditional Chinese medicines ("TCM"), nutritional and dietary supplements, and medical devices and medical formulations, today announced that through its wholly-owned subsidiary in China, Konzern Pharmaceuticals, it has signed an equity transfer agreement (the "Transfer Agreement") to acquire 100% of equity interests in Sinoform Limited ("Sinoform"), a British Virgin Islands corporation, the sole shareholder of Guangzhou LifeTech Pharmaceuticals Co. Ltd. ("LifeTech"), a wholly-owned subsidiary of Sinoform. LifeTech is a developer, manufacturer and marketer of pharmaceuticals products and TCMs headquartered in Guangzhou, the People's Republic of China ("PRC").
Under the terms of the Transfer Agreement, China Medicine will acquire 100% of Sinoform's equity in LifeTech for a cash payment of RMB 57...
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