Alibaba, Yunfeng to invest $170 million in drug data project

[riky]

Alibaba, Yunfeng to invest $170 million in drug data project

<p><a href="http://news.yahoo.com/alibaba-yunfeng-invest-170-million-drug-data-project-133014436--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/ewvhjF_j_v29vazDOoGOag--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-01-23T133014Z_1_CBREA0M11IL00_RTROPTP_2_CTECH-US-ALIBABA-PHARMACEUTICALS.JPG" width="130" height="86" alt="A security guard walks past a logo of Alibaba (China) Technology Co. Ltd at its headquarters on the outskirts of Hangzhou" align="left" title="A security guard walks past a logo of Alibaba (China) Technology Co. Ltd at its headquarters on the outskirts of Hangzhou" border="0" /></a>BEIJING (Reuters) - Chinese e-commerce company Alibaba Group said on Thursday it would help fund a pharmaceutical information platform being developed by CITIC 21CN Co., a subsidiary of CITIC Group. Alibaba Group and Yunfeng, a private equity firm founded by Alibaba Chairman Ma Yun, will subscribe for US$170 million of new shares in CITIC 21CN and take a 54.3 percent stake in the company. The goal is to channel CITIC 21CN's vast pool of pharmaceutical product data into Alibaba's e-commerce, cloud computing and big data systems to win new business. Alibaba's business-to-consumer platform, ...</p><br clear="all"/>

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