Teva increases stake in Chinese biotech firm
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.