Swedish Drugmaker AstraZeneca is drafting plans to spin-off its China business. According to the Financial Times on Sunday, June 18, the company is considering listing a separate unit in Hong Kong.
But according to people familiar with the matter, the separation may not take place. One of the people said, that another possibility could be listing the entity in Shanghai.
According to a report, the spin-off could protect the Anglo-Swedish drugmaker from tensions between China and other global powers.
Last year, China accounted for 13% of AstraZeneca’s total sales, and the company is China’s biggest drugmaker.