Reported about 5 hours ago
Bristol Myers Squibb has announced the sale of its 60% stake in the Sino-American Shanghai Squibb Pharmaceuticals joint venture in China, a move aligned with its long-term strategy to support evolving business needs. The venture, established in 1982, was one of the first U.S.-China pharmaceutical collaborations and has been key in modernizing China's pharmaceutical manufacturing. This decision reflects a trend among foreign drugmakers facing operational challenges in China.
Source: YAHOO