Schering Plough To Buy Out Shanghai Partners
This article was originally published in PharmAsia News
Executive Summary
BEIJING - Schering Plough's Chinese partners are selling all their stakes in the joint venture in Shanghai and Schering Plough plans to buy them out to begin wholly owned operations in China next year
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Shanghai Schering-Plough Pharmaceutical To Transfer 45 Percent Stock
Shanghai Schering-Plough Pharmaceutical, a joint venture 55 percent owned by Schering-Plough (China) Ltd., recently listed 45 percent of its equity-30 percent owned by Shanghai Pharmaceutical Industry Co. and 15 percent by Shanghai Pharmaceutical (Group)-on Shanghai United Assets and Equity Exchange for 66.329 million yuan (9.5 million). The two Chinese partners' pullout paves the way for Schering-Plough (China) to gain full control of Shanghai Schering-Plough Pharmaceutical; according to transfer terms, the foreign MNC has first rights to bid for the shares. Shanghai Schering-Plough Pharmaceutical has to defer to the policies of majority shareholder Schering-Plough (China) for its supplies and product export; thus any third-party deal will need the latter's blessings. (Click here for more - Chinese Language)
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).
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).