Tong Hua Shuang Long Chemical Industry Co. Ltd. (300108.CN) will buy 100 percent of Jilin Jinbao Pharmaceutical Co. Ltd. for 1.08 billion yuan (US$178.18 million), it said in a regulatory filing Thursday. The transaction will be paid for with new shares and cash. Jinbao Pharmaceutical, which develops, produces and sells drugs, posted a net profit of 97.04 million yuan in 2013, the filing said. Shuang Long has been suspended from trading for the past three months.
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