Tianjin Lisheng Pharmaceutical is to sell its 25 percent holdings in Tianjin Takeda Pharmaceuticals to Takeda Pharmaceutical for 120 million yuan, according to a company filing.
The stake sale was approved by Lisheng’s board and shareholders and is aimed at reducing losses.
Tianjin Takeda is a joint venture of Lisheng and Takeda, which hold respective stakes of 25 percent and 75 percent.
Tianjin Takeda had total assets and liabilities of 309.16 million yuan and 102.27 million yuan as of June 30. Net assets totaled 206.5 million yuan.
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