The Week in Review: Sinopharm Holding Guangzhou Co. Ltd to Raise $640 Million Through Bond Sale
Published: Mar 11, 2013
March 9, 2013 --Sinopharm Holdings, one of China’s big-three drug distributors, will issue $640 million of five-year corporate bonds that may be used to fund new acquisitions; Shanghai Fosun Pharma will buy $22.4 million of preferred stock in Saladax Biomedical, a US maker of diagnostic assays; EntreMed, a US biotech with strong China connections, raised $10.7 million from two China-specific institutional investment funds; Viva Biotech, a Shanghai pre-clinical CRO, formed a drug development partnership with Addex Therapeutics of Switzerland; China National Biotec Group announced a research collaboration with Riboxx Pharma, a German biopharma; WuXi PharmaTech signed a second agreement with OMT, a California company that produces transgenic animals; Sun Yat-sen University will collaborate with Johns Hopkins University to develop China’s next-generation clinical investigators; China may give the SFDA power to regulate the nation’s food supply in addition to drugs; and WuXi PharmaTech reported another year of steadily increasing growth for 2012, something it seems to do with metronomic regularity. More details….
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