The Week in Review: Tongjitang Chinese Medicines Company Upping the Stakes

August 21, 2008 -- Tongjitang Chinese Medicines Co. is still considering the $4.50 per ADS buyout offer from its Chairman/CEO and Fosun Industrial; GSK will purchase an additional 9% of its vaccine JV with Neptunus Interlong; Accord Pharma will pay $4 million for the rest of Sinopharm Traditional Chinese Medicine; China approved the merger between Novartis and eye-products company Alcon with conditions; Jiangbo Pharma received manufacturing approval for a hypertension drug; Sinovac Biotech’s revenues are lower now that the fear of flu is abating; and Sinopharm Group will locate its antibiotic manufacturing center in Datong City, Shanxi province. More details….