Pfizer Sells Stake in China's Hisun, Ending Drugs Joint Venture - (Bloomberg via NewsPoints Desk)

  • Pfizer has sold its 49-percent state in a joint venture with Chinese firm Hisun Pharmaceuticals, Bloomberg reported Friday.

  • The $295-million partnership forged in 2011 aimed to develop, manufacture and commercialise pharmaceutical products in China and other regions.

  • Pfizer spokesperson Steve Danehy did not divulge how much Pfizer will receive from the transaction.

  • "We will continue to collaborate with the [Chinese] government and other stakeholders to increase access to affordable and high quality medicines," Danehy stated.

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