Bristol Myers to Sell 60% Stake in China Joint Venture  - Regional Media News

Bristol Myers to sell 60% stake in China joint venture  - Regional Media News

SHANGHAI (Reuters) -U.S. drugmaker Bristol Myers Squibb said on Tuesday it has signed an agreement to sell its 60% ownership stake in a pharmaceutical joint venture in China. “As part of our long-term strategy, we continue to align our resources to support evolving business needs across our global network,” a spokesperson for the company said in an emailed response to Reuters’ queries about a local media report.  The spokesperson said Bristol My…

Bristol Myers Squibb sells controlling stake in first U.S.-China pharmaceutical joint venture

After 43 years, Bristol Myers Squibb said it is ending the first U.S.-China pharmaceutical joint venture in China, according to a report from the website Fierce Pharma.  BMS has agreed to sign an agreement to sell a 60% ownership stake in its China-based joint venture Sino-American Shanghai Squibb Pharmaceuticals (SASS), a BMS spokesperson told Fierce Pharma in an emailed statement. The move is primarily related to the manufacturing of older med…

Bristol Myers to sell 60% stake in China-US joint venture

Bristol Myers Squibb is selling its majority stake in the Sino-American Shanghai Squibb Pharmaceuticals Limited joint venture, which was the first US pharmaceutical joint venture established in China. The book value of its 60% equity ...