Actavis sells Foshan Pharma stake

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Actavis's planned China departure is gaining speed. The company announced Friday that it is selling its interest in Foshan Pharmaceuticals to Zhejiang Chiral Medicine Chemicals Co., Ltd.

The company said in a statement that its plan is to “further commercial operations in China in collaboration with its preferred business partners,” but the firm has recently been talking about how the country's business climate is not friendly enough.

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