China's Sito Biotech pays $63m for 60% stake in domestic firm Yingu Pharmacy

China's Sito Biotech pays $63m for 60% stake in domestic firm Yingu Pharmacy

Laboratory equipment. Photo: Pixabay

Chinese publicly-traded steroid biotechnology company Shandong Sito Biotechnology has agreed to pay 458.1 million yuan ($62.7 million) for a 60% stake in domestic pharmaceutical firm Yingu Pharmacy.