Huadong Medicine to acquire a minority stake in Heidelberg Pharma for $930m.

Huadong Medicine, a Chinese pharmaceutical company, agreed to acquire a minority stake in Heidelberg Pharma, a biopharmaceutical company, for $930m. "We are excited to enter this major partnership with Huadong. Through this strategic collaboration, we will gain another valuable and reliable long-term investor who fully supports our strategy to become a global ADC player, and we will be able to speed up our product development and broaden our pipeline. We are convinced that our partner's strong development and commercialization expertise and knowledge of Asia will both shorten the time to market and maximize the commercial opportunity for our ATAC (R) products in this important territory," Liang Lu, Huadong Medicine Chairman of the Board and CEO.