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news.HBYS, a healthcare division of Chi-Med has extended its drug distribution activities by investing in a drug distribution company, Nanyang Baiyunshan Hutchison Whampoa Guanbao Pharmaceutical Company (NBHG).
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The investment allows HBYS commercial team to also sell third party products in all provinces in China.
HBYS will invest $3.2m for a 60% equity interest in NBHG which is used as working capital to expand future commercial activities.
In return for the balance of 40% equity interest in NBHG, the minority partner will inject an existing GSP license and business.
Chi-Med CEO Christian Hogg said this strategic investment widens the scope of their existing OTC drug business and immediately lets them start leveraging commercial strength to help build complimentary third party OTC products.