Ranbaxy to Transfer Stake in China to HNG Chembio Pharmacy
- Posted on 20 January 2010
Ranbaxy Laboratories and HNG Chembio Pharmacy have announced the transfer of the former's entire shareholding in Ranbaxy (Guangzhou China) Limited (RGCL) to HNG Chembio Pharmacy Co (HNG).
This transaction is part of the former’s endeavour to develop a new business model for China which entails the marketing of value added pharmaceutical formulations and the consolidation of manufacturing operations, for cost synergies.
HNG will gain entry in the field of pharmaceutical dosage forms, in which HNG plans further investments.
