Actavis sells stake in China JV to Chiral
31st January 2014
A week after its chief executive said the Chinese market represents too much of a risk for the firm, Actavis has sold its interest in a subsidiary based in Foshan, Guangdong to Zhejiang Chiral Medicine Chemicals Co.
Sigurdur Oli Olafsson, Actavis president said the operations in Foshan “were limited in scope and we believe that their value will be better capitalised on by Chiral”. The latter will add “manufacturing and marketing capabilities allowing them to expand their portfolio and strengthen their position in the Chinese market”, he added.