January 30, 2008 -- Baxter International (NYSE: BAX) will take its Shanghai Baxter JV completely in-house by buying the 40% stake in the JV that had been owned by Worldbest Treeful Pharmaceutical. Worldbest is in financial trouble, and the Bank of China ordered the JV stake to be put up for auction. Worldbest Treeful originally invested $4.8 million for a 40% participation in the venture. Baxter paid 180 million RMB, about $24.3 million, to acquire the position. More details...
