Week in Review: Hainan Haiyao Buys SinoMab BioScience Ltd. Stake for $10 Million
Published: Feb 04, 2013
February 2, 2013 -- Hainan Haiyao Co. will pay $9.9 million for a 40% stake in SinoMab Bioscience Limited, an antibody company; MicroConstants China, a Beijing early stage CRO, will manage the clinical research center of the No. 307 Hospital of the People’s Liberation Army; Lee's Pharma will conduct the China arm of a global Phase III trial for Portola Pharma in exchange for an option to negotiate China rights for the drug; the State Council of China issued a Bio-industry Development Plan that maps the 2020 goals for seven major bio-industries, including biopharma; Luqa Pharma launched its initial product in China, Strataderm® Gel, an innovative silicone gel scar treatment; and Aoxing Pharma received an SFDA license to produce the API for pholcodine, a narcotic cough suppressant. More details….
Stock Symbols: (SHE: 000566) (HK: 0950) (NYSE MKT: AXN)