Tongjitang Chinese Medicines, a pharmaceutical company focused on modernized traditional Chinese medicine, lowered the range of its IPO Thursday. The company will be offering their ADSs at an anticipated price range of $12.00 to $14.00, which is 19% below the originally announced range of $15.00 to $17.00. The number of shares offered remains at 9.9 million. A new trade date has not yet been announced. Merrill Lynch and UBS are the lead underwriters on the deal.
