Sinopharm, China's largest drug distributor, is considering acquiring Nanjing Pharmaceutical Group Ltd to expand its presence in eastern China, according to a media report.
Sinopharm had entered into a framework agreement with Nanjing's municipal government, a controlling shareholder of Nanjing Pharmaceutical, 21st Century News Group reported on its website, citing an informed source.
Nanjing Pharmaceutical Group, parent of drugmaker and distributor Nanjing Pharmaceutical Co Ltd and Jinling Pharmaceutical Co Ltd, owns ten pharmaceutical manufacturing enterprises and operates a distribution network of more than 1,000 outlets in the mainland.
Sinopharm officials were not immediately available for comment.
