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Business
Aurobindo To Sell Unit To Sinopharm
by Ann M. Thayer
January 17, 2011
| A version of this story appeared in
Volume 89, Issue 3
India-based Aurobindo Pharma will sell Aurobindo Bio-Pharma, its Datong, China, subsidiary, to China National Pharmaceutical (Sinopharm). The subsidiary, which has incurred losses, makes the penicillin derivative 6-APA. Sinopharm will acquire a 51% stake and then raise it to 80.5% by investing to relocate a plant, as required by the local Chinese government, and to enhance capacity and downstream products. Aurobindo says it has moved away from active pharmaceuticals and is now emphasizing its formulation business.
The power is now in your (nitrile gloved) hands
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