![](https://investorshub.advfn.com/uicon/33199.png?cb=1474042454)
Monday, November 09, 2009 5:21:30 PM
Associated Press, 11.04.09, 02:13 AM EST
BASEL, Switzerland -- Pharmaceuticals company Novartis AG said Wednesday it is paying $125 million for an 85 percent stake in Chinese vaccine maker Zhejiang Tianyuan Bio-Pharmaceutical Co. Ltd.
Privately-held Tianyuan sells vaccines against diseases such as hemorrhagic fever with renal syndrome, or HFRS, caused by hantaviruses, and conducts research into "various preventable viral and bacterial diseases," Novartis said.
The Chinese company had net sales of $25 million in 2008.
The deal, which requires regulatory approval, comes a day after Novartis announced it will invest some $1.25 billion in its research centers in China over the next five years.
Copyright 2009 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed
http://www.forbes.com/feeds/ap/2009/11/04/business-eu-switzerland-novartis-china_7082666.html
FEATURED BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • Jul 2, 2024 7:19 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM