HUTCHMED (HCM) said Wednesday it has agreed to sell a 45% equity interest in Shanghai Hutchison Pharmaceuticals to GP Health Service Capital and Shanghai Pharmaceuticals in two transactions totaling about $608 million in cash.
Shanghai Hutchison, which manufactures, sells and distributes prescription medicines for cardiovascular diseases, is HUTCHMED's 50-50 joint venture with Shanghai Pharmaceuticals.
Under the terms, GP Health Service has agreed to acquire a 35% equity interest in Shanghai Hutchison for about $473 million in cash, while Shanghai Pharmaceuticals will buy a 10% stake for about $135 million in cash.
The transactions are set to close by the end of Q1.
Upon completion, HUTCHMED will retain a 5% equity interest in Shanghai Hutchison. Meanwhile, Shanghai Pharmaceuticals will hold a 60% equity interest in the joint venture.
The sale will allow HUTCHMED to focus on its core business of developing and commercializing therapies for cancers and immunological diseases, the company said, adding that it plans to use proceeds of about $477 million to further enhance its pipeline.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。