China Health Holding announces acquisition of Xi'An Meichen
China Health Holding, a development-stage pharmaceutical firm, says that it has executed a definitive agreement to acquire all the assets of fellow Chinese drugmaker Xi'An Meichen Pharmaceutical. CHH explained that, under the terms of the deal, as a result of which it will gain Xi'an's Good Manufacturing Practice accredited drug production plant, it will pay $1.5 million in cash and 20 million in shares. CHH added that that it has moved to acquire majority share holdings in several other Chinese drug firms in recent months, including Beijing Boran, Shaanxi Wanan Xi'An Chunhui and Henan Tiankang.
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