Week In Review: China Resources Pharma To Raise $2 Billion In Hong Kong IPO

China Resources Pharma, China's second largest drugmaker, is now approved to stage a Hong Kong IPO raising $2 billion and scheduled for next month; iHealth, a US subsidiary of Tianjin's Andon Group, paid $106 million to acquire a fellow mobile health monitoring company, France' eDevice; WuXi AppTec acquired China rights to manufacture and sell the molecular diagnostic systems developed by AutoGenomics of San Diego; PharmaLegacy, a Shanghai pre-clinical CRO, formed a strategic bone disease alliance with Pasadena's BioVinc; DeltaHealth opened its first cardiovascular hospital in Shanghai, the first of a chain it plans to build in China; and BioDuro, a Beijing-Shanghai-San Diego CRO/CMO, completed the expansion of its Shanghai CRO facility with space for 100 additional scientists.