Ranbaxy Laboratories, India's largest drugmaker, has taken steps to consolidate its manufacturing operations by quitting one of the highest-profile Indian investments in China.
The company said yesterday that it had sold its entire stake in its Chinese joint venture to HNG Chembio Pharmacy, a state-controlled conglomerate.
Ranbaxy (Guangzhou China) had been set up as one of the first Sino- Indian joint ventures 16 years ago.
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