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news.Virtual Closet has acquired Dong Ke Pharmaceutical, a company that identifies, discovers, develops, manufactures and distributes both prescription and over-the counter, including both conventional and Traditional Chinese Medicines, pharmaceutical products for the treatment of some of the most common ailments and diseases.
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In a share exchange transaction Virtual Closet has acquired control of Dong Ke Pharmaceutical, the parent company of Yangling Slovan Pharmaceuticals, a wholly foreign-owned enterprise organized under the laws of the People’s Republic of China.
Yangling Slovan Pharmaceuticals controls Yangling Dongke Maidisen Pharmaceuticals, a company organized under the laws of the People’s Republic of China, by issuing to all of the Dong Ke Pharmaceutical Shareholders shares our of common stock as consideration for all of the outstanding capital stock of Dong Ke Pharmaceutical.
Dong Ke Pharmaceutical said that its current operations involve manufacturing and selling of 38 pharmaceutical products in the form of capsules, tablets, granules, semisolid ointment, powder, ointment, and paste ointment.
Dong Ke Pharmaceutical currently focuses on varying diseases relating to respiratory system, digestive system, cardio-cerebral vascular system, antineoplastic, bone diseases-modifying antirheumatic, gynecological, and refill nutrition, among others.
Dongke Zhao, chairman and CEO and president of Virtual Closet, said: “We are very pleased to announce the completion of our acquisition of Dong Ke Pharmaceutical. We are very positive about the growth of the pharmaceutical industry in China.
“We have reached a major goal with having our company’s shares quoted on the OTC Bulletin Board in the US which is expected to allow us to broaden our investor base, create a liquid market for our stock, and financially support the accelerated growth of our business.”