The Week in Review: Sagent Pharmaceuticals, Inc. Buys Out China JV Partner for $25 Million
Published: May 13, 2013
May 11, 2013 -- Sagent Pharma, a US generic injectible drugmaker, will pay $25 million to acquire its partner’s 50% interest in a China manufacturing JV; ScinoPharm Taiwan and Coland Holdings formed a partnership to bring generic oncology drugs to mainland China; Zhejiang Huahai Pharma joined with Oncobiologics to develop and make biosimilars of four popular drugs; Hutchison Chi-Med will out-license global rights to a novel small-cell cancer drug this year; Zhejiang Beta Pharma and Amgen will form a JV to commercialize an Amgen cancer drug; Beijing Leadman Biochemistry will be the exclusive distributor in China for Immunodiagnostic Systems Holdings’ diagnostic tests; Teva Pharma, which does not have a substantial presence in China, considers its products a natural fit for China’s market; and Greg Scott, president of ChinaBio, pointed out that China partners are essential for western pharmas: “In China, unless you have deep resources, it is difficult to come and do everything yourself,” he said. More details….
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