Deals

World's Largest Generic Drug Maker Seeks Tie Up With Producer of Chinese Viagra

Government approval for Teva drugs pending, Chairman Li says
Generic drug sales in China to top $80 billion this year

Guangzhou Pharmaceutical’s Li discusses the company’s business strategy.(Source: Bloomberg)

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By Bloomberg News

November 2, 2017 at 8:41 AM UTC

Updated on

November 2, 2017 at 4:25 PM UTC

This article is for subscribers only.

Teva Pharmaceutical Industries Ltd. is making its boldest move in China with plans to set up a joint venture with Guangzhou Pharmaceutical Holdings Ltd. to make and sell the Israeli company’s generic drugs in the world’s second-biggest market for medicines, according to its partner.

The drugmaker known for its popular Chinese version of Viagra is awaiting local government approval for some Teva drugs, Guangzhou Pharma Chairman Li Chuyuan said in an interview at the company’s headquarters in southern China on Thursday. He declined to discuss the structure and financial details of the venture.