Chinese drug maker seeks NYSE listing
The company banks on an ageing Chinese population and higher urban wealth to drive growth of its key drug.
Tongjitang Chinese Medicines, which owns one of ChinaÆs most well-known pharmaceutical brands, is on the road trying to drum up interest for an initial public offering. Its plan to raise up to $168 million on the New York Stock Exchange may have become a little harder to achieve following the sharp correction in global equity markets this week.
However, people involved with the offering argue that the companyÆs fast growth rate, its focus on the elderly as its primary patient...
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