Week In Review: Fosun Pharma, WuXi PharmaTech Co., Ltd. Acquire San Diego's Ambrx, Inc.
Fosun Pharma, WuXi PharmaTech and two equity investors will acquire Ambrx, a clinical-stage San Diego antibody-conjugate biotech; Ramsay Sime Darby Health Care, an Australia-Malaysia hospital operator, will pay $135 million to form a five-hospital JV with a Chengdu hospital chain; Livzon Pharma and California's Cynvenio will form a $20 million China JV to offer Cynvenio's blood-based cancer diagnostic in China; China Medical Systems in-licensed greater China rights to Faron Pharma's Traumakine®, a treatment for respiratory distress syndrome; MabSpace, a Hong Kong-Suzhou company, announced deals to discover antibody drug candidates with Shanghai's Genor Biopharma and Jiangsu Hengrui Medicine; WuXi PharmaTech revealed its LabNetwork platform, an e-Commerce site that connects buyers and sellers of research chemicals and reagents; and China announced its plans to scrap the 15% mark-up on drug sales in hospital pharmacies.
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