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Hutchmed divests 45% interest in Shanghai Hutchison for $608M
The Fly

Hutchmed divests 45% interest in Shanghai Hutchison for $608M

Hutchmed (HCM) announces that it has entered into two agreements to divest its 45% equity interest in Shanghai Hutchison Pharmaceuticals for $608M in cash to GP Health Service Capital and Shanghai Pharmaceuticals. Hutchmed said it has been exploring opportunities to monetize the underlying value of SHPL, a “non-core, non-consolidated joint venture.” It added, “These transactions would allow Hutchmed to focus on its core business of discovering, developing and commercializing novel therapies for the treatment of cancers and immunological diseases, including advancing its next-generation antibody-targeted-therapy conjugate programs.” The company plans to invest the proceeds from these transactions “to further develop its internal pipeline and drive its core business strategy forward.”

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