Tonghua Golden-Horse Pharmaceutical Industry (SHE:000766) signed a non-binding agreement to purchase a controlling stake in Bajiayi Pharmaceutical, according to a Friday filing with the Shenzhen bourse.
Bajiayi is a pharmaceutical research company with 23 drug research and development patents.
The agreement has a 90-day exclusivity agreement, which would not allow Bajiayi to entertain acquisition negotiations with other parties.
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