Ranbaxy Consolidates in China, Exits Joint Venture

Ranbaxy Laboratories is selling its stake in a joint venture with two Chinese pharmaceutical companies as part of a cost-saving effort to consolidate its manufacturing operations in China. The company’s stake in Ranbaxy Guangzhou China Limited (RGCL) will be sold to HNG Chembio Pharmacy, a state-owned company that focuses on the pharmaceutical ingredients business, Ranbaxy says. The other two companies in the joint venture, Guangzhou Baiyunshan Pharmaceutical Company and Hong Kong New Chemic, will remain a part of RGCL.
Drug Industry Daily