Sinocom Pharmaceutical, a pharmaceutical wholesaler and distributor in Central-Eastern China, withdrew its plans for an initial public offering on Thursday citing poor market conditions. The Central Hong Kong, Hong Kong-based company was founded in 1997 and booked $109 million in sales for the 12 months ended 12/31/10. Cowen & Company and Macquarie Capital were set to be the lead underwriters on the deal.
