Fosun Pharma secures full ownership of Fosun Kite with $27 million deal
Shanghai-based Fosun Pharmaceutical has announced it has acquired the remaining 50% stake in Fosun Kite Biotechnology from Kite Pharma for $27 million, giving it full control of the joint venture.
With this move, Fosun now holds 100% ownership, dissolving the original partnership established with Kite Pharma, now part of Gilead Sciences (Nasdaq: GILD).
Alongside the acquisition, Fosun has committed an additional $10 million investment for further product development and operational expansion, signaling its continued focus on advancing cell therapies.
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