For a while it looked as if Carlsberg was going to get an unexpected Christmas bonus from its investment in China’s Chongqing Brewery, whose shares had risen nearly 60 per cent this year by the end of November.
But a notice to the Shanghai Stock Exchange on December 5 revealed that it was all froth.
The Chinese beermaker issued a long-awaited update on its research into the development of a new vaccine against Hepatitis B and it said, basically, that the 12-year-old project was not getting anywhere.
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