Winteam Pharmaceutical Group Co., Ltd. of China National Corporation of Traditional and Herbal Medicine announced that on 24th of May 2013, it had entered into an acquisition agreement on 23rd to purchase all Tongjitang Pharmaceutical's issued share.
Engaged in manufacture and sales of Chinese traditional patent medicines in China, particularly the medicines for treating respiratory and nasal, cardiovascular and cerebrovascular diseases as well as rheumatic osteonosus, the Winteam Pharm owns many well known brand like ‘Dezhong’, ‘Foshan’ and ‘Fengliaoxing’ etc.. Guizhou Tongjitang is a traditional Chinese medicine enterprises focusing on orthopaedic medicines. With the over 100-year-old brand of ‘Tongjitang’, it has many exclusive products like Xianlinggubao capsules (tablets), Runzao Zhiyang capsules, ZaoRenAnShen capsule, Jingshu granules and Fengshi Gutong capsules, one of its flagship product Xianlinggubao capsule (tablet) has been approved for the treatment of osteoporosis by the State Food and Drug Administration. The Board of Directors of Winteam Pharm believes, the acquisition of Tongjitang will enable Winteam Pharm to enter the Orthopaedic medicine market rapidly, exert full potential of Tongjitang and enrich Winteam‘s brand portfolio, in order to enhance the market position and brand recognition.
On the same day, Winteam Pharm also announced the plan of changing the company name into China Traditional Chinese Medicine Co. Limited. [Reported by Sinopharm TCM]