Sino Biopharmaceutical acquires LaNova Medicines for $951m

Sino Biopharmaceutical announced the full acquisition of LaNova Medicines for up to $950.92 million. After accounting for estimated cash and bank deposits, the net payment will be approximately $500.9 million.

The acquisition will enhance Sino Biopharmaceutical's research and development capabilities in molecular types and tumor immunity, with LaNova becoming a wholly-owned subsidiary.