February 6 -- Shanghai Pharmaceuticals Holding (601607.SH,2607.HK) plans to fully acquire Changzhou Kangli Pharmaceutical in order to optimize its product mix, reports Shanghai Securities News, citing a company filing.

The planned acquisition of Kangli Pharma, which was valued to be worth 300 million yuan, will be the second in the sector since the beginning of the year.

Founded in 1986, Kangli Pharma specializes in the production of special drug raw materials and intermediates. It mainly produces  ophthalmic preparations and raw materials for anti-hypertension drugs.

Through end June last year, the company had total assets of 103.91 million yuan and total liabilities of 24.03 million yuan. It generated net profit of 17.26 million yuan on sales revenue of 62.93 million yuan in the first half of 2011.

According to Xu Guoxiong, president of Shanghai Pharmaceuticals Holding, the proposed acquisition will help to improve its EHS management systems.