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Hunan Chinasun Pharmaceutical Machinery Co., Ltd (300216) and Glucovation will set up a joint venture in China with 100 million RMB (US $16.67million)

 

Hunan Chinasun Pharmaceutical Machinery Co., Ltd (300216) intends to purchase series A preferred stock of Glucovation and intends to set up a joint venture in China with Glucovation. The total investment is no less than 100 million RMB (US$16.67million). Hunan Chinasun Pharmaceutical shall hold 80% of equity and Gluvovation will hold the rest of the equity. The main business of this joint venture is developing, manufacturing, and marketing continuous blood glucose monitoring products.

 

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