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Hutchison China MediTech Sells Stake in TCM Company for $169 Million

publication date: Mar 24, 2021

Hutchison China MediTech has signed an agreement to sell its interest in Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company to a subsidiary of GL Capital for $169 million. China MediTech described HBYS as a non-core, non-consolidated OTC drug joint venture that offers Traditional Chinese Medicine products. It will concentrate on its novel drug development business. China MediTech also announced it will call itself HutchMed, replacing the "Chi-Med" used for many years. More details....

Stock Symbol: (NSDQ/AIM: HCM)

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