PFE - Pfizer backed cancer drugmaker CStone mulls options including sale - Bloomberg News

• Pfizer ( NYSE: PFE ) backed Chinese cancer drugmaker CStone Pharmaceuticals ( OTCPK:CSPHF ) is exploring strategic options, including a sale of the company, Bloomberg News reported citing people with knowledge of the matter.
• WuXi Healthcare Ventures, a unit of of Chinese pharma company Wuxi, is CStone's largest shareholder with 24.7% stake while New York-based Pfizer owns ~9.9% stake .
• CStone has partnered with Pfizer and certain other companies on several cancer drugs.
• CStone is being helped by Goldman Sachs Group to discover interest from potential buyers and the options include the sale of a controlling stake in the company, the report added citing people familiar with the matter.
• The report noted that the discussions are preliminary and no final decision had been taken and the company could still decide to not go through with it.
• Hong Kong-listed CStone shares were suspended for trading for nearly two months in April-May as the company carried out a probe into an investment which violated listing rules, the report noted.
• Cstone stock has slumped ~70% in the past year, as per the report.
• Currently Cstone has a market cap of about HK$6.00B.

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