Hubei Minkang Pharmaceutical Ltd (OTCBB:HBMK) signed a memorandum of understanding to acquire up to 51% stake in Hubei Merryclin Pharmaceuticals Co., Ltd. on March 28, 2012. Hubei Minkang will acquire 30% to 51% interest and make use of the production facilities of Merryclin. In exchange, Hubei Minkang will transfer several production permits held by its indirect subsidiary, Hubei Minkang Pharmaceutical Co., Ltd., to Hubei Merryclin.

Hubei Minkang Pharmaceutical Ltd (OTCBB:HBMK) cancelled the acquisition of 51% stake in Hubei Merryclin Pharmaceuticals Co., Ltd. on March 28, 2013.