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Lenovo's Parent Bets on Pharmacy.
(From SinoCast China Financial Watch)
SHANGHAI, October 17,. 14, SinoCast -- Lenovo Holdings, parent of Hong Kong-listed Lenovo Group, China's largest PC maker, is betting big on the pharmaceutical industry as people's health understanding rises here. A diversified investment company, Lenovo Holdings agreed to invest in excess of CNY 210 million in Nanjing Simcere Pharmaceutical Co., Ltd. through the wholly-owned subsidiary Hongyi Investment Management Co. It takes 31 percent stake in the drug company based in the eastern city of Nanjing thus becoming a major shareholder, according to the September 29 agreement. Hongyi has waited for a long time before accession to …
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