CStone Pharma Replaces Chairman Amid Huge Losses, Irregular Investment

CStone’s executive reshuffle comes after company discovers questionable investment made by finance vice president in 2021 Key Takeaways: CStone brought four products to market last year, and its losses have surged due to growing R&D and sales spending Appointment of chairman with close ties to WuXi AppTec reveals a power struggle between shareholders and management By Molly Wen CStone Pharmaceuticals‘ (2616.HK) revenue fell 77% last year and its net loss climbed, as the Chinese drug company saw one-off license fees decline sharply and marketing costs to launch new drugs swell.…

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FAST NEWS: Fosun Pharma Spends $160 Million on Singapore Cancer Clinic

The latest: Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (2196.HK; 600196.SH) announced Monday evening it will acquire a 60% stake in Oncocare Medical Pte Ltd, one of the local largest private medical oncology specialist centers in Singapore, for a consideration of no more than S$218 million ($160 million). Looking up: Fosun Pharma said the acquisition will help expand the company’s medical services business in Southeast Asia and further strengthen its overall cancer treatment services. Take Note: Upon completion of the transaction, the board of directors of Oncocare Medical will comprise five directors,…

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The Growing Legal Risks of ESG

Companies that issue environmental, social and governance materials are under growing scrutiny from regulators and shareholders for false or misleading statements By George Boychuk ESG investing involves the analysis of environmental, social, and governance (ESG) factors when making investment decisions. Such investment has gained increasing attention from fund managers in recent years, leading to rapid growth in ESG-focused mutual funds and exchange traded funds. That, in turn, has led businesses across a range of industries to promote and try to capitalize on their ESG credentials. 

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