The Week in Review: Company Profiles and Drug Advancement

August 2, 2008 -- In ChinaBio® Today, we profiled two China biotechs last week. One, Shenogen Pharma Group, won one of the two “Most Promising Company” awards at the recent ChinaBio® Investor Forum, The other profiled company, Beike Biotechnology, provides stem cell treatments for a variety of difficult-to-treat maladies. Bridge Labs announced plans to build a second preclinical facility in China; Lotus Pharma (OTCBB: LTUS) will construct a manufacturing plant in Inner Mongolia; Zhejiang Huahai Pharma (SHSE: 600521) will provide finished product, not just APIs, to Merck (NYSE: MRK); Tianyin Pharma (OTCBB: TYNP) was given SFDA approval for a generic version of the statin simvastatin; CompuMed (OTCBB: CMPD) received approval from the SFDA to market its osteoporosis diagnostic software in China; Bayer and Onyx Pharmas (NYSE: ONYX) were awarded SFDA approval for their cancer drug, Nexavar®; Huifeng Bio-Pharmaceutical (OTCBB: HFGB) remains on track to gain approval to provide Diosmin to Safic-Alcan; NovaMed Pharma added a sixth drug to the list of pharmaceutical products it distributes in China for Sanofi-Aventis (NYSE: SNY); and Sinobiomed (OTCBB: SOBM) received part of a new $500,000 funding. More details...