Actavis wants out of China
Actavis wants out of China. Bloomberg reports that the generics drugmaker said the country's business climate is too difficult to continue to operate in. “It wasn't worth the aggravation, the frustration or the concern,” CEO Paul Bisaro told Bloomberg at the JP Morgan Healthcare conference.
Bisaro added: “If we are going to allocate capital, we're going to do so where we can get the most amount of return for the least amount of risk. And China is just too risky.”
Bloomberg notes that Actavis has not been among the companies slammed with accusations of corruption and that the country makes up a small portion of the firm's business.