PE Interest In Hisun's Biosimilars Arm As Hong Kong Firm Acquires $540m Majority Stake

Asia-focused PE firm PAG has purchased a majority stake in Hisun BioRay, the biotech division of Chinese state-owned generic company Zhejiang Hisun Pharmaceutical, for $540m, boosting its presence in a nascent, fast-growing segment of the country’s drug industry.