March 31, 2006 - The world's largest generic pharmaceutical manufacturer Teva Pharmaceutical Industries announced Thursday that it had increased its shareholding in the Chinese firm Tianjin Hualida Biotechnology, from 45 percent to 60 percent.

The Israel-based company originally acquired its 45 percent equity ownership in Hualida through its acquisition of Sicor in 2004. Its partner in Hualida will continue to be Tianjin Zhongxin Pharmaceutical Group, which is owned by Tianjin Pharmaceutical Holdings, a Chinese pharmaceutical group.

Tianjin Hualida makes and markets genetic recombinant medicines, highly purified proteins, anti-virus and anti-tumor chemicals, and natural products.

Established in as a drug wholesaler, Teva is now among the top 20 largest pharmaceutical companies in the world and the world's largest manufacturer of generic drugs. The company also produces Copaxone, a blockbuster multiple sclerosis. Listed on the US Nasdaq index, the stock has traded in a 52-week range of $29.50 to $45.91, and was trading at $40.72 following the announcement on Thursday.