China Grand Pharmaceutical to Acquire 7.6% Stake in Telix
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China Grand Pharmaceutical and Healthcare Holdings Ltd. will spend $25 million for a 7.6% stake in Australian biotech firm Telix Pharmaceuticals Ltd.
The companies entered a licensing and co-development agreement with upfront and milestone payments of as much as $225 million, Hong Kong-based China Grand said in a statement to the city’s stock exchange.