China's Ping An Insurance paid $245 million to acquire a 10% stake in Japan's Tsumura, an herbal drugmaker. Tsumura controls 84% of Japan's market for prescription Kampo medicine, the Japanese development of traditional Chinese medicine that started in the seventh century. The two companies will set up a JV to bring Kampo medicines to China, "offering more choice" to China's people, they added. More details....
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