Hutchmed (China), controlled by tycoon Li Ka-shing, is selling stakes in its health subsidiary for around $608 million as the billionaire and his flagship conglomerate look to ramp up capital and pivot towards core operations at the drugmaker.

Biopharmaceutical firm Hutchmed China Ltd., backed by billionaire Li Ka-shing, has agreed to sell stakes in a health unit for about $608 million as the group seeks to generate capital and focus on its core businesses.

Hutchmed, a biopharmaceutical company controlled by Hong Kong’s wealthiest person Li Ka-shing, is divesting a 45% stake in a cardiovascular joint venture for about

Limited, a biopharmaceutical company under Hong Kong-listed conglomerate CK Hutchison Holdings, has agreed to sell its 45% equity interest in Shanghai Hutchison Pharmaceuticals Limited (SHPL) to GP Health Service Capital and Shanghai Pharmaceuticals Holding for about 4.

Limited ($HK:0013), backed by Hong Kong billionaire Li Ka-Shing, gained nearly 4% today after it agreed to sell