Chinese pharmaceutical company Betta Pharmaceuticals (Betta) has announced its intention to acquire a majority stake in fellow Chinese pharmaceutical company AnewPharma.

Betta proposes to pay ¥371.6m ($54.08m) to acquire 77.4% stake in the target company.

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Eli Lilly and Company has announced that it has completed the acquisition of biopharmaceutical company CoLucid Pharmaceuticals.

The $960m acquisition will help the acquirer company improve its existing portfolio in pain management for migraine.

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