Actavis Sells China JV to Zhejiang Chiral Medicine
publication date: Jan 28, 2014
Actavis, the global generic drug company, has agreed to sell its interest in its China JV, Actavis (Foshan) Pharmaceuticals, to Zhejiang Chiral Medicine Chemicals. Two weeks ago, Actavis said China was too risky and the business opportunity too uncertain (see story). According to the company, other countries presented a better risk-reward proposition, and Actavis had decided to pull out of China. However, now Actavis says it intends to continue commercial operations in China, working with “its preferred business partners.” The company did not explain the apparent contradiction. More details....
Stock Symbol: (NYSE: ACT)
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