CSL buying majority stake in Chinese plasma company

CSL Ltd. (ASX:CSL) said it is acquiring an 80% stake in plasma therapy company Wuhan Zhong Yuan Rui De Biological Products Co. Ltd. (Ruide) for $352 million. Ruide is a subsidiary of Humanwell Healthcare Group Co. Ltd. (Shanghai:600079), which will continue to own the remaining 20%. The companies expect the deal to close next half.

Ruide develops, commercializes and manufactures plasma-derived products in China, and reported 2016 revenues of $30 million...