Fosun Pharma shuffles board, licenses key drug, and more

Shanghai Fosun Pharmaceutical Group (SSE:600196) has been active on multiple fronts, announcing board changes, a licensing agreement for its subsidiary's drug, and participation in a new equity investment fund. First, Chen Yuqing has been elected as the new Chairman, with Guan Xiaohui as Co-Chairman and Wen Deyong as Vice-Chairman. Second, subsidiary Henlius granted Sandoz AG exclusive rights to develop, produce, and commercialize HLX13, an anti-CTLA-4 antibody injection, in the US, Europe, Japan, Australia and Canada in exchange for up to USD191 million in milestone payments and tiered royalties. Finally, Fosun announced plans to participate in a CNY2.5 billion equity investment fund focused on innovative healthcare companies, with its subsidiary Suzhou Junming contributing CNY49 million. Fosun will hold a results call on May 29.