Shelly Banjo, Columnist

Teva's Misplaced Chinese Passion

There are better ways for the Israeli drugmaker to get its sales back up.

November 3, 2017 at 4:50 AM UTC

Shelly Banjo leads the global business team for Bloomberg News in New York. A former New York bureau chief and senior tech writer, she’s covered business, finance and economics for two decades.

Production Inside Guangzhou Pharmaceutical Group's Baiyunshan Plant — Photographer: Qilai Shen/Bloomberg

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The world's largest generic drugmaker, Teva Pharmaceutical Industries Ltd., aims to tie up with the producer of the Chinese version of Viagra to crack the world's second-largest medicine market -- at least that's what Guangzhou Pharmaceutical Holdings Ltd. Chairman Li Chuyuan told Bloomberg News Thursday.

Teva's spokespeople denied the companies have any current agreement on a China joint venture. The non-denial denial suggests this is far from a final deal. In any case, Teva should probably take a closer look before signing on the dotted line.