Novartis is buying out Zhejiang Tianyuan Bio-pharmaceutical Co., Ltd. this is a private company which has a Joint Venture with CHBO.OB

Here is the Company background:
China Biopharma Inc. (CBI) is a provider of pharmaceutical products with its focus mainly on the introduction and marketing of human vaccines and other pharmaceutical products. It has established its distribution and development platform in China and as a result of its acquisition of interest in its majority owned subsidiary, Hainan CITIC Bio-pharmaceutical Development Co., Ltd. (HCBD) and, as a result of its joint venture with Zhejiang Tianyuan Bio-pharmaceutical Co., Ltd. (Zhejiang Tianyuan). It has two operational segments. One segment, consisting of CBL and its subsidiaries provides bio-pharmaceutical products. The other segment, which consists of China Quantum Communication Limited (CQCL) and its subsidiary, was engaged in the business of providing telecommunications services and developing related technology. However, following its re-positioning of its business focus from telecommunications to pharmaceutical operations, CQCL ceased carrying on any daily business activities.