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The Week in Review: China National Biotech Group Schedules $2 Billion IPO in Hong Kong


11/14/2011 9:48:03 AM

November 12, 2011 -- China National Biotechnology Group (CNBG) will raise as much as $2 billion in a Hong Kong IPO in early 2012; WuXi PharmaTech formed a $50 million corporate venture fund; China Resources Medications Group announced a $158 million pharmaceutical JV with Pientzehuang Pharma; Kunming Pharma will raise $110 million in a secondary offering to increase capacity; Yabao Pharma completed a $74 million private placement; Fosun Pharma paid $30 million for a 6.5% stake in Simcere Pharma; Sinovac Biotech announced positive top-line results from a Phase II trial of its vaccine for hand, foot and mouth disease; Jennerex and Lee’s Pharma released positive data from their novel treatment for liver cancer; Sanofi reported its China Q3 revenues climbed 47% to $370 million; and Jianwen Wu, the former head of Shanghai Pharmaceutical Group, received a death sentence for accepting bribes. More details….

Stock Symbols: (NYSE: WX) (SHA: 600436) (SHA: 600422) (SHA: 600351) (SHA: 600196) (NYSE: SCR) (NSDQ: SVA) (HK: 8221) (NYSE: SNY) (SHA: 601607)


Read at ChinaBio Today

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