China Sky One eyes acquisitions
Wed Aug 5, 2009 3:51am EDT
HONG KONG (Reuters) - China Sky One Medical Inc, (CSKI.O), an over-the-counter drugmaker, said it aims to tap potential growth in China's pharmaceutical market through acquisitions after Beijing's announced a blueprint for health-care reform.
The Nasdaq-listed Chinese drugmaker would consider raising capital to fund future acquisitions, with priority on products before looking at companies and brands, CEO Liu Yanqing told Reuters.
"It is a good environment for us to consider fundraising," Liu said in an interview on Wednesday. "The U.S. capital market is recovering, companies with China exposure are enjoying strong recognition and many investment banks and funds have expressed confidence in prospects for China's economy."
He gave no timetable for the fundraising exercise.