Week in Review: PerkinElmer, Inc. (PKI) Buys Haoyuan Biotech, a Diagnostics Company  
11/19/2012 12:13:51 PM

by Richard Daverman, PhD

November 17, 2012 -- PerkinElmer paid $38 million to buy Shanghai Haoyuan Biotech, a company that produces four diagnostic tests for infectious diseases; Innovent Biologics, a Suzhou antibody development and manufacturing company, announced a $25 million Series B financing; Hainan Haiyao signed a LOI to acquire a 40% stake in SinoMab Bioscience Limited, an antibody company; Orchid Chemicals and Pharma of India will sell its 50% stake in a China JV to its partner for $13.9 million; Roche and Swiss Re are offering insurance for Roche’s cancer drugs to China’s middle class; Thermo Fisher Scientific opened a new $20 million manufacturing plant in Suzhou; Promega Corporation, a US-based provider of biotechnology research tools, completed a new diagnostics manufacturing facility in China; and Simcere Pharma received SFDA approval to begin China clinical trials of an anti-angiogenesis treatment for cancer. More details….

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