Teva Pharmaceutical Industries Ltd. may be entering a joint venture with Guangzhou Pharmaceutical Holdings to make and sell the Israeli manufacturer’s generic drugs in China, according to Guangzhou Pharma Chairman Li Chuyuan.
A Bloomberg article reported that Guangzhou Pharma, which makes the Chinese version of Viagra, is awaiting local government approval for some Teva drugs. Chairman Li did not reveal the structure or financial details of the venture.
Teva denied establishing a joint venture in China.
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