GSK Divests China Suzhou Site, Antiviral Rights To Fosun

GSK becomes latest pharma multinational to offload assets in China as competition and pricing pressure continue to mount.

China - Suzhou City
GSK DIVESTS SUZHOU PRODUCTION SITE AND LAMIVUDINE RIGHTS TO FOSUN • Source: Shutterstock

GlaxoSmithKline PLC has decided to transfer its stake in a Suzhou, China manufacturing subsidiary, along with the local registration for lamivudine, to a Fosun International Ltd. group company, in a deal worth CNY250m ($36m).

According to filings to the Shanghai Stock Exchange, where Fosun is listed, the Chinese company’s Chongqing Yaoyou Pharmaceutical Co

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from China

More from Focus On Asia