| Schering-Plough continues global expansion plans | Posted on 13/08/2008 in Pharmaceutical Company Restructures Schering-Plough has this week announced the continuation of its global expansion plans with the establishment of a new wholly-owned subsidiary.
The company has set up Shanghai Schering-Plough Pharmaceutical through the acquisition of shares in its former joint-venture partners to expand its presence in China.
In 1994, Schering-Plough entered into an agreement with Shanghai Pharmaceutical Industry and Shanghai Pharmaceutical Group - its partners in China - for the manufacture, marketing and distribution of important skincare and allergy products.
The company said its long-standing relationships with these firms have been a major part if the successful establishment of opertions in China.
Fred Hassan, chairman and chief executive officer of Schering-Plough, said: "The actions announced today are part of Schering-Plough's long-term global geographic expansion strategy."
He added investment in China and the Asia-Pacific region marks progress in the company's plans to become a global high-performance healthcare company.
In May 2008, Schering-Plough announced the appointment of Janet M Barth as new vice-president of investor relations at the company.Other news stories from 13/08/2008
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