Actavis sells off Chinese subsidiary


Generic drugs heavyweight Actavis is selling off a subsidiary based in Foshan, China. The business is being bought by Zhejiang Chiral Medicine Chemicals for an undisclosed sum.

In a company statement, Actavis stressed that the company ‘intends to continue further commercial operations in China in collaboration with its preferred business partners’. But in an interview with Bloomberg, chief executive Paul Bisaro claimed that doing business in China is ‘too risky’, and the returns were not worth the effort compared to other markets.


Related Content

UCB sells speciality generics subsidiary

26 November 2014 Business

news image

Firm will use $1.5bn proceeds to reduce debt and concentrate on developing new drugs in neurology and immunology

Riding new waves

6 January 2015 Business

news image

Pharmaceutical industry roundup of 2014

Most Read

Lawrencium experiment could shake up periodic table

9 April 2015 Research

news image

Measurement of first ionisation energy confirms electronic configuration but opens up an important debate

Silicon chip spots dangerous pathogens in human blood

10 April 2015 Research

news image

Silicon wafer doped with silver nanoparticles can rapidly identify E. coli in blood

Most Commented

Women twice as likely to be hired for academic posts as men

17 April 2015 News and Analysis

news image

Experiment shows that faculty staff are more likely to pick women for job roles based on hypothetical CVs

Lawrencium experiment could shake up periodic table

9 April 2015 Research

news image

Measurement of first ionisation energy confirms electronic configuration but opens up an important debate