AstraZeneca Buys China Generic Drug Firm; Announces US Layoffs

AstraZeneca announced it will increase its China presence by acquiring Guangdong BeiKang Pharmaceutical, a drug maker with five generic injectible anti-infective products. The purchase price for BeiKang, a privately held company, was not disclosed. At the same time, AstraZeneca is laying off 1,150 members of its US-based sales force. More details.... Stock Symbol: (NYSE: AZN)     Share this with colleagues: