Black­stone in­vests $400M in one of Chi­na's fast-grow­ing phar­ma com­pa­nies; CVS sets up an ICER-based for­mu­la­ry

→ The Black­stone Group is in­vest­ing $400 mil­lion in YiChang HEC ChangJiang Phar­ma­ceu­ti­cal. The big pri­vate eq­ui­ty play­er is back­ing the com­pa­ny via con­vert­ible bonds, fund­ing a new pro­gram at the com­pa­ny to ac­quire phar­ma­ceu­ti­cals. The Chi­nese com­pa­ny has a long track record for man­u­fac­tur­ing, sell­ing and de­vel­op­ing new drugs. The deal comes as a num­ber of Chi­na’s top com­pa­nies look to quick­ly as­sem­ble pipelines and port­fo­lios.

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