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4507 - Shionogi & Co News Story

¥6110 26.0  0.4%

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Sector
Healthcare
Size
Large Cap
Market Cap £13.35bn
Enterprise Value £10.84bn
Revenue £2.25bn
Position in Universe 68th / 3862

Japan's Shionogi to sell 2.05% voting stake to China's Ping An, raise $311 mln

Mon 30th March, 2020 7:25am
TOKYO, March 30 (Reuters) - Japanese drug maker Shionogi &
Co  4507.T  said on Monday it would tie up with China's Ping An
Insurance Group Co of China Ltd  601318.SS , selling a 2.05%
voting stake from its treasury stock for 33.53 billion yen
($311.27 million).
    Shionogi agreed to form a joint venture with the Chinese
group's unit, Ping An Life Insurance of China Ltd, with the aim
of discovering and distributing new drugs and developing generic
drugs, it said in a statement.
 ($1 = 107.7200 yen)

 (Reporting by Chang-Ran Kim)
 ((ran.kim@thomsonreuters.com; +81-3-4563-2740;))
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