Trading house Mitsubishi Corp. and drug wholesaler Medipal Holdings Corp. said Thursday they have formed a broad business tieup with China’s largest drug distributor, Sinopharm Group Co., to enter the burgeoning Chinese pharmaceutical market.
In their first move, the major trading house and Japan’s largest drug wholesaler will invest ¥2.8 billion into Sinopharm Group Beijing HuaHong Co., the Shanghai-based partner’s subsidiary, with Mitsubishi taking a 25 percent stake and Medipal a 14 percent stake, they said.
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