Cardinal Health has paid $470 million to buy 100% of China’s largest pharmaceutical importer, Zuellig Pharma China, which is known locally as Yong Yu. The management team of Yong Yu will also join Cardinal.
Yong Yu is closely held and owned by Hong Kong-based Zuellig Pharma, which is part of the Zuellig Group. Zuellig Pharma was started by the Zuellig family 60 years ago in the Philippines and has grown into a business spread across 15 countries in Asia with a focus on distribution services for the healthcare industry. The group is now professionally managed and had a turnover of around $12 billion in 2009. In a press release announcing the deal, ...
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