BRIEF-Jiuzhitang Scraps Plan To Buy Stake In Beijing Biotech Firm

July 13 (Reuters) - Jiuzhitang Co Ltd:

* SAYS IT SCRAPS PLAN TO BUY 26.9 PERCENT STAKE IN BEIJING BIOTECH FIRM FOR 1.01 BILLION YUAN ($150.84 million) Source text in Chinese: https://bit.ly/2NaZKv2 Further company coverage: ($1 = 6.6959 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)