Sino Biopharmaceutical to acquire LaNova Medicines for up to $951 million

Hong Kong-listed Sino Biopharmaceutical said on Tuesday it will buy the remaining 95.09% stake it does not hold in Shanghai-based LaNova Medicines for no more than $950.92 million. The acquisition of the cancer treatment developer will enhance Sino’s competitiveness and influence in oncology innovation, while also enabling potential future international transactions by leveraging LaNova’s R&D capabilities, it added.

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