The Week in Review: China's Beijing Genomics Institute (BGI) Acquires Complete Genomics, Inc. of the U.S.  
9/24/2012 9:55:36 AM

by Richard Daverman, PhD

September 22, 2012 -- China’s sequencing giant, BGI, paid $117 million to buy Complete Genomics, a California-based gene sequencing company; Alliance Boots of the UK purchased a 12% stake Nanjing Pharma for $91 million in a drug distribution tie-up; China Cord Blood received a $50 million capital infusion from its corporate parent, Golden Meditech Holdings; NovaBay Pharma expanded its distribution partnership with Pioneer Pharma to include Southeast Asia; China ordered an average 17% reduction in the maximum retail prices of 95 cancer, immunology and blood-related drugs, many of them produced by foreign drugmakers; Johnson & Johnson will set up four innovation centers around the globe – one of them in China (see story); and a spinal stabilization device from Shanghai Kinetic Medical was approved for use in the US by the FDA. More details….

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