Category Business News

HUTCHMED to sell 45% stake in Shanghai Pharma (HCM:NASDAQ)

J Studios/DigitalVision via Getty Images HUTCHMED (China) Limited (NASDAQ:HCM) on Wednesday announced agreements to sell its 45% stake in Shanghai Hutchison Pharmaceuticals Limited, a joint venture with Shanghai Pharmaceuticals Holding (OTCPK:SHPMF), for $608 million (RMB 4.5 billion) in cash. The…