10:51 AM EST - Dragon Pharmaceutical Inc. : said on Friday that in a letter dated January 15, Yanlin Han, Chairman and CEO of the company, has made a non-binding proposal to purchase all of the outstanding shares of Dragon Pharma for a price of $0.80 per share. Yanlin Han is the largest shareholder of the company owning 37.95% of the total outstanding shares. The Board of Directors has established a special committee of independent directors consisting of Peter Mak, Chairman, and Drs. Li and Frey to act on behalf of Dragon Pharma with respect to consideration of the proposal and other strategic alternatives. Dragon Pharmaceutical Inc.
shares T.DDD are trading up $0.10 at $0.73.
