Winteam Pharmaceutical to acquire Tongjitang Chinese medcines company for $393m

Winteam Group devoted to the secondary development of traditional Chinese medicines (TCM) and the development of modern Chinese medicine preparations, characteristic antibiotics, sustained-release and controlled-released preparations, and tumor medicines, will acquire Tongjitang chinese medicines for $393m.
Tongjitang Chinese Medicines Company develops, manufactures, markets, and sells traditional Chinese medicine, nutritional products, and Tibetan recipe-originated plant-based medicines in China.