May 14, 2011 -- Chongqing Zhifei Biological Products bid $93 million for fellow vaccine company, Bilthoven Biologicals, located in the Netherlands; Sinopharm Xinjiang Pharma will sell seven non-operating subsidiaries for just the cost of their debt; Sanofi expects China will become its second biggest market, after the US, within five years; consolidation is the major initiative of the 12th Five-year Plan (2011-15) for China’s drug distribution sector; WuXi PharmaTech reported first quarter revenues that were ahead of estimates; Simcere Pharma reported SFDA approval of a follow-on biologic drug developed by a subsidiary; Tianyin Pharma was granted SFDA approval for a type 2 diabetes drug, Gliclazide Tablets; China Meheco signed a two-year contract to $939 million of drugs to Venezuela; and Naviscan of San Diego announced Chindex Medical Limited will be the China distributor for its breast-specific PET scanner. More details….
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