Schering-Plough's International Moves

Schering-Plough has invested $15 million in a 55% stake in a joint venture in China regarding the production of antiallergic and anti-inflammatory products. Two local companies will have a stake in the joint venture. Shanghai Pharmaceutical Industry Corporation will hold a 30% stake and the Shanghai Corporation of Pharmaceutical Economic and Technical International Cooperation will control 15%.

S-P has also recently initiated the construction of a multimillion dollar plant in Xochimilco, Mexico City, in Mexico. The company will invest over $50 million in the facility, a major feature of which will be state-of-the-art contamination reduction systems for air and water.

The US company has been investing in Mexico consistently since 1991. Further investment of around 270 million pesos ($8.1 million) is planned, with over 75% of this to be invested in the next two years.