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Schering-Plough Splits With Chinese Joint Venture To Complete Global Organon Merger

This article was originally published in The Pink Sheet Daily

Executive Summary

Merged company plans expansion throughout China and the Asia-Pacific region.

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Schering-Plough China To Acquire Shanghai Schering-Plough

The equity transfer of Shanghai Schering-Plough's 45 percent has gone into the final stages of price quotation. According to sources at share-owner Shanghai Pharmaceutical (Group) which is selling its stake, the quotation system still maintains its list price of 66.33 million yuan. Except for original shareholder Schering-Plough China, no other company has submitted application of acceptance; thus, there will be no surprises if Schering-Plough China takes over Shanghai Schering-Plough. So far the equity transaction has started and will be completed at the beginning of July. Shanghai Schering-Plough will then become a wholly-owned subsidiary of a foreign pharmaceutical firm. (Click here for more - Chinese Language)

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