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Business

Schering-Plough Expands In China

August 18, 2008 | A version of this story appeared in Volume 86, Issue 33
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Schering-Plough has established a wholly owned Chinese subsidiary, Shanghai Schering-Plough Pharmaceutical, by buying out its former joint-venture partners in China. In 1994, Schering-Plough partnered with Shanghai Pharmaceutical Industry Co. and Shanghai Pharmaceutical Group to manufacture and sell allergy and skin-care products. According to Schering-Plough CEO Fred Hassan, the buyout is “part of Schering-Plough’s long-term global geographic expansion strategy.” The company intends to further expand its pharmaceutical business in China.

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