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

HUTCHMED (China) Limited (NASDAQ:HCM) on Wednesday announced agreements to divest its 45% equity ownership in Shanghai Hutchison Pharmaceuticals Limited, its joint venture with Shanghai Pharmaceuticals Holding (OTCPK:SHPMF), for $608M (RMB 4.5B) in cash.

The Hong Kong-based pharma said Chinese private