Week in Review: Simcere Pharmaceutical Group Receives $503 Million Privatization Offer
Published: Mar 18, 2013
March 16, 2013 -- Simcere Pharma, like many US-listed China biopharmas, has received a go-private offer from management, an offer that values Simcere at $503 million; Shanghai Pharma paid $72 million to purchase an additional 20% stake in Chiatai Qingchunbao Pharma, a Hangzhou maker of TCM products; New Jersey-based Catalent Pharma made two transactions that will increase its presence in China; Domain Associates formed a partnership with Elite Consulting, a consultant service for China life science, which will bring western products to China; Pathwork Diagnostics of California will collaborate with Kindstar to provide Pathwork’s cancer IVD kits in China; China has given the SFDA responsibility for monitoring the safety of the nation’s food supply; Sinovac Biotech reported positive top-line data from the Phase III clinical trial for its hand, foot and mouth vaccine; and BravoBio, a Shanghai vaccine startup, was named the 2013 BioSpectrum Asia Pacific Emerging Company of the Year. More details….
Stock Symbols: (NYSE: SCR) (SHA: 601607; HK: 02607) (NSDQ: SVA)