Monday, November 29, 2010

Cardinal Health will buy Zuellig Pharma of China

Staying with the medical theme, this I can really identify with being we have done work at two of their industrial sites for over 20 years.  The only growth I have seen is companies buying up companies and getting a foot on doing business in China.  No matter how you feel about China and how it does business, it is still going to be very difficult for our workforce to compete.

NEW YORK -- Cardinal Health Inc. announced its second major deal of the month on Monday, saying it will buy Chinese pharmaceuticals distributor Zuellig Pharma China for $470 million.
The health care products company said Zuellig Pharma is China's largest importer of prescription drugs, and has about $1 billion in annual revenue. The deal allows Cardinal Health ( CAH - news - people ) to expand its business to China. The Dublin, Ohio, company said that the pharmaceutical market in China is expected to grow 20 percent per year through 2014, becoming the largest drug distribution market in the world after the U.S. by 2015.

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