Shanghai Pharmaceuticals (SHA:601607, HKG:2607) completed the acquisition of a majority stake in Shanghai Hutchison Pharmaceuticals or SHPL, according to a Hong Kong Stock Exchange disclosure on Monday.

The Chinese pharmaceutical company directly and indirectly owns 60% of SHPL. The company directly owns 10% of SHPL, while its subsidiary, Shanghai TCM, will hold 50% of SHPL, the disclosure said.