Shionogi to acquire full ownership of joint ventures with Ping An
Japanese drugmaker Shionogi (TYO: 4507) has announced that it will acquire full ownership of its joint ventures with subsidiaries of Ping An Insurance.
The move will dissolve the partnerships and make the entities wholly-owned subsidiaries of the Osaka-based pharma company, which currently has a 51% stake in both entities.
The agreement follows a review of the ventures’ business plans in light of both companies' strategic goals. Shionogi has opted to focus on its core drug research, development, and sales activities in China, while Ping An focuses on its main business lines.
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