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ChinaBio(R) LLC Release: The Week in Review: China Pledges $18 Billion for Biopharma 2011-2020


7/2/2012 11:34:30 AM

by Richard Daverman, PhD

June 30, 2012 -- China plans to spend $11.8 billion to increase biopharma innovation in its 13th Five-Year Plan (2016-2020), bringing its ten-year total to over $18 billion; China Pharma Group paid $1.2 billion to acquire Robust Sun Holdings, which makes drugs for CNS diseases; Sinopharm Capital, Fosun Pharma and China Meheco will lead a $157 million PE fund for China biopharma; Cardinal Health added drug distribution coverage in China by acquiring Zhejiang Dasheng Medic; Zhejiang Medicine in-licensed China rights to manufacture and commercialize a broad-spectrum antibiotic from TaiGen Biotech of Taiwan; 3SBio received SFDA permission to conduct a Phase III trial of a anti-rejection drug; and PharmaNet/i3, a clinical-stage CRO, received the Distinguished Partner Award from the US Chinese Anti-Cancer Association. More details…

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Read at ChinaBio Today


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