Please login to the form below

Not currently logged in
Email:
Password:

J&J increases holding in Chinese joint venture

According to a company insider, Johnson & Johnson China Investment will buy further shares in Xi'an-Janssen Pharmaceutical

According to an insider, Johnson & Johnson China Investment, a 100-owned subsidiary of US-based Johnson & Johnson (J&J) will buy further shares in Xi'an-Janssen Pharmaceutical from shareholders in the Chinese company.

The financial website TradingMarkets said that the information was leaked from an employee of the pharmaceutical joint venture on 20 November 2007.

J&J is said to be in negotiations with three Chinese shareholders to acquire a 17.2 per cent stake on the basis that the equity structure of the sellers would not change. The acquisition has been approved by China's Ministry of Commerce, according to the insider.

The deal could extend J&J's control in Xi'an-Janssen from 52 to 70 per cent.

J& J China Investment recently acquired 1.8 per cent of Xi'an-Janssen for CNY 78m (approx. USD 10.5m) from Shaanxi Hanjiang Pharmaceutical Group. The other three Chinese shareholders are Shaanxi Pharmaceutical Industry (33.6 per cent), China National Pharmaceutical Industry (5.8 per cent) and China National Pharmaceutical Foreign Trade (3.8 per cent).

Xi'an-Janssen was jointly set up by J&J's subsidiary Belgium-based Janssen Pharmaceutica and the above four Chinese state-owned companies in October 1985.

30th September 2008

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Clark Health Communications

Clark Health Communications (CHC) is an independent, award-winning health and medical communications agency. Our collaboration with experts and advocates enhances...

Latest intelligence

Australian Flu and the dilemma of naming diseases
...
Wearables and Healthcare
What place do wearables have in affecting actual patient health outcomes and can they contribute to the NHS’s sustainability agenda? Or are they just the latest fad?...
What does a future-proof rep look like?
Businesses can no longer afford to push ahead with the traditional Key Account Management model....

Infographics