Teva Moves Into Chinese Pharmaceutical Market

Teva, the largest non-patent medicine producer in the world, will hold the stake of Tianjin Hualida Biotechnology Co. Ltd (Hualida) in Tianjin, a municipality in north China, reliable sources said. Teva recently sent an eight-member team, including three vice presidents, to visit China, showing its intention of investment for holding the stake of Hualida. Teva, headquartered in Israel and one of the world's top 20 pharmaceutical producers, recorded a sales volume of US$4.799 billion with profits reaching US$965 million in 2004. Its core business focuses on non-patent medicines and crude drugs.

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