March 2, 2013 -- Sinopharm paid $252 million to purchase a 57% stake in China’s Winteam Pharma, a TCM maker; OrbiMed Advisors will close its second Asia healthcare private equity fund later this year, a fund that will invest mainly in China and India; China Grand Pharma announced a $20 million oncology drug JV with HuangShi Feiyun Pharma; Fosun Pharma formed a China distribution JV with Atrium Innovations, a Canadian dietary supplement company; Crystal Pharmatech of Suzhou and US-based Particle Sciences set up a CRO partnership; the SFDA proposed new drug review guidelines that will prioritize innovation and shorten review timelines; Polaris Group of San Diego will build a $50 million drug biotech manufacturing facility in Chengdu; Mindray Medical’s 2012 revenues topped $1 billion for the first time; and Pfizer received China approval for Xalkori, a treatment for NSCLC that has the ALK mutation. More details….
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