Fosun Pharmaceutical has announced plans for its subsidiary to spend up to $36 million to buy GlaxoSmithKline's Suzhou pharmaceutical factory in east China.
YaoPharma, Fosun's Chongqing unit, will not only acquire GSK's production facilities but also the rights to its chronic hepatitis B drug lamivudine.
Lamivudine is used in GSK’s HIV and hepatitis drug Epivir.
GSK has recently opened continuous manufacturing facilities in Singapore.
Read the Xinhua report