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Week in Review: Eli Lilly and Company (LLY) Invests $100 Million in China Animal Healthcare Ltd.



4/15/2013 9:45:48 AM

by Richard Daverman, PhD

April 13, 2013 -- Eli Lilly’s animal health division, Elanco, will pay $100 million to buy a 20% stake in China Animal Healthcare Ltd.; OriGene Technologies acquired the assets of SDIX, an antibody maker, for $16 million; Tong Ren Tang plans to IPO a subsidiary, TRT Chinese Medicine, on the ChiNext exchange in Q2; the National Center for Drug Screening of China and PerkinElmer will collaborate to validate new diagnostic tests for diabetes in Asian populations; Eddingpharm will market and distribute Tykerb, a GlaxoSmithKline breast cancer drug, in China; China issued its expanded 2012 Essential Drug List along with a directive telling local governments to consider quality – not just price – when choosing drug suppliers; the US FDA asked for $4.7 million to carry out inspections of China pharmas that export to the US during fiscal year 2014; and China’s SFDA will fast-track approvals of peramivir, a flu treatment, in response to the bird flu outbreak. More details….

Stock Symbols: (NYSE: LLY) (NSDQ: SDIX) (HK: 01666) (NYSE: PKI) (NYSE: GSK)


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