January 24, 2007 -- Chinese biotech is coming to Wall Street. 3SBio, located in Shenyang in the northeast corner of China, has filed to make its IPO. Traditionally, Chinese biotech was based on adaptations of Western drugs, which were sold domestically. The industry was heavily dependent on versions of Amgen’s EPO, and the business plan for 3SBio, accordingly, is built around its version of EPO. The numbers are surprising for anyone familiar with the financial reports of American biotechs. We use 3SBio to see how the Chinese biotech industry does business...
