17th Apr 2014 10:39
LONDON (Alliance News) - Hutchison China MediTech Ltd said Thursday that it had been granted regulatory approval in China to establish its new joint venture with Sinopharm Group Co.Ltd.
The companies will have a 51% interest in the joint venture, which will be called Hutchison Whampoa Sinopharm Pharmaceuticals Company Ltd. The new joint venture will commence operations April 25.
Hutchison said the new venture will provide sales, distribution and marketing services to domestic and multi-national pharmaceutical manufacturers.
Shares in Hutchison last traded flat at 800.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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