China-based Wanbangde Pharmaceutical Group has entered into a non-legally binding letter of intent with Consun Pharmaceutical Group Ltd (HKG: 1681) to acquire 238,056,948 shares at RMB 9.17 (USD 1.36) per share, valuing the transaction at approximately RMB 2.2 billion (USD 325 million).
About Consun Pharmaceutical
Consun Pharma, listed on the Hong Kong Stock Exchange (HKSE) since December 2013, focuses on the R&D, manufacturing, and sales of traditional Chinese medicine (TCM) and medical imaging contrast agents. Its product portfolio includes nephrology, medical imaging, women and children-focused medicines, and TCM products. As of the end of 2021, the company’s products were available in 28 countries.-Fineline Info & Tech
