Guangzhou Pharma to take 26.63% controlling stake in Da An Gene

The signal: The acquisition underscores a wave of state-backed consolidation sweeping China's diagnostics sector as companies that scaled rapidly during the pandemic now face shrinking revenues and mounting losses. With Guangzhou Pharma adding a fourth listed company to its portfolio, the deal illustrates how large state-owned pharmaceutical groups are using the post-Covid shakeout to absorb distressed assets and build vertically integrated healthcare platforms.

Read more: jiemian.com