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Consun Pharmaceutical Unit to Acquire 30% Stake in Supplier

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Consun Pharmaceutical (HKG:1681) unit Guangzhou Consun Pharmaceutical agreed to invest 191.4 million yuan in Shanghai Huamao Pharmaceutical for a 30% stake, according to a Monday Hong Kong bourse filing.

The investment will be made through the purchase of existing equity interest and a capital increase in cash.

Shanghai Huamao Pharmaceutical is a biotechnology and pharmaceutical company and acts as a supplier of Consun Pharmaceutical.

The purchase will facilitate market expansion, vertical integration, supply strengthening, and R&D resource sharing for the firm among other benefits.

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