Business News • MarketWire • Radient Pharmaceuticals' China-Based Subsidiary Jade Pharmaceuticals Signs Letter of Intent to Acquire Shanxi Baotai Pharmaceutical Co. Ltd. |
Radient Pharmaceuticals' China-Based Subsidiary Jade Pharmaceuticals Signs Letter of Intent to Acquire Shanxi Baotai Pharmaceutical Co. Ltd. |
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Radient Pharmaceuticals' China-Based Subsidiary Jade Pharmaceuticals Signs Letter of Intent to Acquire Shanxi Baotai Pharmaceutical Co. Ltd.
TUSTIN, CA--(Marketwire - July 28, 2010) - Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today its China-based subsidiary Jade Pharmaceuticals Inc. (JPI) signed a letter of intent (LOI) under which JPI will acquire Shanxi BaoTai Pharmaceutical Co., Ltd. (BaoTai), a privately owned pharmaceutical manufacturing company located in Taiyuan China, through a non-taxable merger of business assets. The transaction, assuming all closing conditions are satisfied or waived, is expected to close in mid-November 2010. The transaction combines the strengths of JPI and BaoTai, two highly successful Chinese pharmaceutical companies, into a single formidable enterprise focused on developing cancer-centric products recognized for quality, branded product names and technical leadership.
View More : http://www.marketwire.com/mw/release.do?id=1296627&sourceType=3
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