Shanghai Pharma buys U.S. Cardinal Health's China business for $557 million

(Reuters) - State-owned Shanghai Pharmaceuticals Holding Co has agreed to acquire Cardinal Health Inc’s China business, one of the nation’s largest drug distributors, for $557 million.

The deal, which includes shareholder loans, gives the China unit an enterprise value of $1.2 billion.

Reporting by Julie Zhu; Editing by Edwina Gibbs

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