Hutchmed divests joint venture for $608 million
Hutchmed (HKEX: 13) has announced agreements to divest its 45% equity stake in Shanghai Hutchison Pharmaceuticals Limited (SHPL) for 4.5 billion renminbi ($608 million). The buyers are GP Health Service Capital and Shanghai Pharmaceuticals (SSE: 601607).
The move is part of Hutchmed’s 2022 strategy to focus on its core oncology and immunology businesses while advancing innovative therapies.
The company intends to use the proceeds to fund its pipeline, including its antibody-targeted therapy conjugate platform, which is expected to enter clinical trials in the second half of 2025.
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