SIPI bets big on pharma business

SHANGHAI: Shanghai Industrial Pharmaceutical Investment (SIPI) may have sold off its crown jewel, but that has not stopped its share price from rising.

Ever since the drug maker sold its entire stake in Lianhua Supermarket Holdings, the cash cow in its corporate stable, to Brilliance Group on Feb 6, the company's shares have only moved one way: up.

SIPI shares had climbed 3.4 percent on the Shanghai bourse since then to close at 13.21 yuan a share yesterday after hitting a peak of 14.15 yuan last Friday.