Grand Pharmaceutical Group (HKG:0512) sold about 45.2% of its stake in Telix Pharmaceuticals (ASX:TLX) for AU$143 million in an off-the-market transaction, a Friday Hong Kong bourse filing said.
The group will use proceeds from the disposal to fund its clinical development plans in areas of unmet need, including projects under its partnership with Telix.
Grand Pharmaceutical Group plans not to sell the remaining stake it holds in Telix in the coming 12 months.
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