Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) will invest 120 million yuan to establish Chengdu Xingrui Jingxuan Biotech.
The investment will give the company an 89.9% stake in the nuclear medicine subsidiary, which will have a registered capital of 133.5 million yuan, according to a Wednesday filing with the Shanghai bourse.
Shares of the pharmaceutical company rose 1% in recent trade on the Shanghai and Hong Kong bourses.
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