Yiling Pharma to Spend $22 Million on Three Drug Collaborations  
3/1/2012 12:38:25 PM

March 1, 2012 -- Shijiazhuang Yiling Pharmaceutical announced plans to invest 138 million RMB ($22 million) into collaborations with other China pharmas to develop innovative drugs. Last summer, Yiling conducted a very popular IPO on the ChiNext exchange. Because of high investor demand, Yiling raised the price of its shares by one-third, ultimately raising $348 million. The company is now investing some of the “unexpected” proceeds into innovation. More details....

Stock Symbol: (SHE: 002603)