Haier To Sell Pharmaceutical Stake To Sino Biopharma's Chia Tai Wing Fuk
This article was originally published in PharmAsia News
Haier Group, China's largest household electrical appliances manufacturer, will transfer its holding stake in Haier Pharmaceutical to Sino Biopharmaceutical's wholly owned subsidiary Chia Tai Wing Fuk. This is the first time Haier restructured an individual business sector since beginning its diversification strategy in 1995. In 2004, Haier Pharmaceutical's sales revenue of 100 million yuan lagged far behind the 10 billion yuan of other local leading pharmaceutical firms. According to inside sources, Haier's entry in the pharmaceutical business may reap lucrative profits in the short term, but uncertainty looms for its long-term gains. Furthermore, the foray may subject the company to the risk of brand dilution and even deterioration. (Click here for more - Chinese Language)
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