Genor Biopharma acquires Yiteng Pharma
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Jiahe Biology announced that it will acquire Yiteng Pharmaceutical Group through a merger, with Yiteng Pharmaceutical becoming a wholly-owned subsidiary of Jiahe Biology. Jiahe Biology will issue 1.821 billion shares of consideration shares to Yiteng Pharmaceutical shareholders, causing the stock price to soar by 41.8% to 2.34 yuan after resumption of trading. This merger is expected to bring synergies and lay the foundation for the company's sustainable development. The board of directors recommends changing the company name and increasing shares to implement the merger
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