The Week in Review: Consolidation and Growth in China

March 29, 2008 -- The wheels kept turning last week in China biotech, as companies jockeyed to increase their presence in the growing China market for pharmaceuticals. Aida Pharmaceuticals (OTCBB: AIDA) acquired a controlling interest in Jiangsu Institute of Microbiology Co.; Tongjitang Chinese Medicines (NYSE: TCM) selected Morgan Stanley to advise them on the $10.20 per ADS offer to take Tongjitang private; CytoPharm will license low-dose interferon from Amarillo Biosciences (OTCBB: AMAR) for animal use; China Medicine Corporation (OTCBB: CHME) reported its 2007 revenues were higher by a full 75%; and China Medical Technologies (NSDQ: CMED) won the CE mark for two semi-automatic ECLIA analyzers and 15 reagents. More details...