Shanghai Pharma buys U.S. Cardinal Health's China business for $557 mln

Nov 15 (Reuters) - State-owned Shanghai Pharmaceuticals Holding Co has agreed to acquire Cardinal Health Inc's China business, one of the nation's largest drug distributors, for $557 million.

The deal, which includes shareholder loans, gives the China unit an enterprise value of $1.2 billion. (Reporting by Julie Zhu; Editing by Edwina Gibbs)