YiChang HEC ChangJiang Pharm raised $400 million from Blackstone Group in the a convertible bond offering. The bonds will pay 3%. HEC Pharm, based in Yichang in central China’s Hubei province, will use the funds to acquire additional drugs and other pharmaceutical products. Blackstone will help HEC Pharm in its M&A pursuit and also advise the company on improving strategy, operations and international cooperation.
Source: China Biotoday
