SHANGHAI, May 22, SinoCast -- Shanghai Pharmaceutical (Group) Co., Ltd. and Shanghai Pharmaceutical Industry Corp. Ltd. jointly put a 45 percent stake in Shanghai Schering-Plough Pharmaceutical Co., Ltd. up for sale at the Shanghai United Assets and Equity Exchange from May 21. The 45 percent stake was priced at CNY 66.32955 million. Shanghai Schering-Plough Pharmaceutical, founded in 1994 with a total registered capital of USD 21 million, is a 55-30-15 joint venture among Schering-Plough Corp., Shanghai Pharmaceutical Group and Shanghai Pharmaceutical Industry Corp. The venture is expected to become a solely foreign invested company after the two Shanghai-based Chinese pharmaceutical manufacturers quit.
