September 21, 2017 / 8:26 AM / a year ago

Slovenian drugmaker Krka to set up China joint venture

LJUBLJANA, Sept 21 (Reuters) - Slovenian generic drugs producer Krka said it will form a joint venture in China and take a majority stake.

The company will be formed in the coming months, Krka said in a statement on Thursday, giving no further details.

In July it said it was in talks to buy a small Chinese pharmaceutical company which has sales of less than 10 million euros ($11.9 mln) a year.

Krka is Slovenia’s largest listed firm with a market capitalisation of about 1.8 billion euros.

Following its announcement on Thursday its shares were up 0.9 percent at 55.6 euros by 0810 GMT, outperforming a 0.2 percent rise in Slovenia’s blue-chip SBI index. ($1 = 0.8400 euros) (Reporting By Marja Novak; Editing by Susan Fenton)

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