Schering-Plough Splits With Chinese Joint Venture Partners To Complete Globe-spanning Merger With Organon
This article was originally published in PharmAsia News
Executive Summary
BEIJING - Schering-Plough has split with its two joint venture partners in Shanghai in order to complete a worldwide merger with the Netherlands-headquartered Organon BioSciences, according to Schering-Plough executives in the U.S. and China
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Schering-Plough China To Acquire Shanghai Schering-Plough
The equity transfer of Shanghai Schering-Plough's 45 percent has gone into the final stages of price quotation. According to sources at share-owner Shanghai Pharmaceutical (Group) which is selling its stake, the quotation system still maintains its list price of 66.33 million yuan. Except for original shareholder Schering-Plough China, no other company has submitted application of acceptance; thus, there will be no surprises if Schering-Plough China takes over Shanghai Schering-Plough. So far the equity transaction has started and will be completed at the beginning of July. Shanghai Schering-Plough will then become a wholly-owned subsidiary of a foreign pharmaceutical firm. (Click here for more - Chinese Language)
PharmAsia News Business Bulletin
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PharmAsia News Business Bulletin
A regular roundup of commercial stories appearing in Scrip’s sister publication PharmAsia News, whose multilingual team of regional experts provides authoritative business intelligence focused on the Asian marketplace. Full stories can be accessed by clicking on the story title (subscription required).