GL Capital to acquire HBYS from HUTCHMED for $169m.

GL Capital, a private equity firm specializing in investments in middle market, agreed to acquire Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company, a non-core and non-consolidated over-the-counter drug joint venture business, from Hutchison China MediTech, a biopharmaceutical company, for $169m. “HUTCHMED’s focus is the discovery and development of novel therapies in oncology and immunology. Over the past 20 years, we have invested in establishing one of the leading innovation-driven, global biopharmaceutical companies based in China. The sale of our shares in HBYS, and exit from the OTC drug arena, will allow us to focus our organization and resources on our primary aim of accelerating investment in our Oncology/Immunology assets in China and beyond," Simon To, HUTCHMED Chairman.