Teva increases stake in Chinese biotech firm

Published: 3-Apr-2006

Teva Pharmaceutical Industries of Israel has increased its equity in Tianjin Hualida Biotechnology Co in Tianjin, from 45% to 60%.


Teva Pharmaceutical Industries of Israel has increased its equity in Tianjin Hualida Biotechnology Co in Tianjin, from 45% to 60%.

Hualida Biotechnology is a developer and manufacturer of genetic recombinant medicines, highly purified proteins, anti-virus and anti-tumour chemicals and natural products.

Teva originally acquired 45% equity stake in Hualida through the Sicor acquisition in 2004. Teva's partner in Hualida will continue to be Tianjin Zhongxin Pharmaceutical Group Co, which is owned by Tianjin Pharmaceutical Holdings, a leading Chinese pharmaceutical group.

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