Actavis selling China assets as it exits that country

Actavis ($ACT) CEO Paul Bisaro says the company has sold a China unit and is in talks to unload another, telling Bloomberg he has decided to retreat from a country that isn't worth all of the effort it requires. What has been sold and to whom, and what is left, was not delineated, but the company has its Actavis Foshan manufacturing site in Guangdong. Actavis (Foshan) Pharmaceutical, a joint venture it created with China's Foshan Chanbende Development, produces antibiotics as well as digestive and cardiovascular drugs. Dosage forms include tablets, soft-gel capsules, hard capsules, oral solution, dry suspension, ointments and liniments. Story | More