Actavis Sells China JV to Zhejiang Chiral Medicine

Actavis, the global generic drug company, has agreed to sell its interest in its China JV, Actavis (Foshan) Pharmaceuticals, to Zhejiang Chiral Medicine Chemicals. Two weeks ago, Actavis said China was too risky and the business opportunity too uncertain (see story). Other countries, according to the company, presented a better risk-reward proposition, and Actavis would pull out of China. However, now Actavis says it intends to continue commercial operations in China, working with “its preferred business partners.” The company did not explain the apparent contradiction. More details.... Stock Symbol: (NYSE: ACT) Share this with colleagues: // //