Teva Pharmaceutical Industries ( TEVA), a generic pharmaceutical company, said that it has increased its equity ownership in Tianjin Hualida Biotechnology in Tianjin, from 45% to 60%.

The Petach Tikva, Israel-based company said that it originally acquired its 45% equity ownership in Hualida through the Sicor acquisition 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.

Hualida Biotechnology is a manufacturing-based enterprise involved in research and development and marketing of genetic recombinant medicines, highly purified proteins, anti-virus and anti-tumor chemicals, and natural products.

The stock was trading down 76 cents at $40.72 Thursday.

This story was created through a joint venture between TheStreet.com and IRIS.

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