IVAX in China
Signs a letter of intent to acquire a 51% stake in a Chinese pharmaceutical factory (Baker-Norton-China Pharmaceutical Company), based in Yunan, China. The company will produce and market "a wide range of immediate and controlled release tablets and capsules as well as a line of pediatric and dermatologic products" for domestic use and Artmetheri, an anti-malarial drug, of which 70% will be exported. Pending finalization of the agreement, IVAX will contribute $ 750,000 in cash and technical expertise to the deal....
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