Week in Review: BeiGene Co.,Ltd Out-Licenses Novel Cancer Drug to Merck Serono

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

by Richard Daverman, PhD

November 16, 2013 -- BeiGene of Beijing out-licensed the ex-China rights for a novel cancer treatment, a PARP inhibitor, to Merck Serono for up to $232 million in milestones; PW Medtech Group, a Beijing medical device company, completed a $180 million IPO in Hong Kong; Shanghai Kinetic Medical acquired an 80% stake in Jiangsu Ideal Medical, a fellow orthopedic implant company, for $86.7 million; Medifocus, a US medical device company, will form a JV with Ideal Concept Group of Hong Kong to develop microwave-based medical devices in China; BGI Health of Shenzhen will form a genomics partnership with Sidra Medical of Qatar; China’s pharma output will grow 20.5% in 2013, reaching $372.6 billion, though profits are not keeping pace with revenues; Merck KGaA and Johnson & Johnson each announced they will build new manufacturing facilities in China; Lilly will spend $350 million in China to increase its production of insulin cartridges; and WuXi PharmaTech said its CMO subsidiary will produce commercial supplies of Imbruvica, a newly approved lymphoma treatment developed by Pharmacyclics. More details…..

Stock Symbols: (Xetra: MRK) (HK: 1358) (SHE: 300326) (OTCQX: MDFZF; TSX: MFS) (NYSE: JNJ) (NYSE: LLY) (NYSE: WX) (NSDQ: PCYC)

Help employers find you! Check out all the jobs and post your resume.

Back to news