October 1, 2011 -- Newsummit Pharma and the Cleveland Bio Fund established a $100 million effort to help US biomedical device companies commercialize their products in China; Cardinal Health continues to hunt for M&A opportunities in China’s drug distribution sector; Sanjiu Medical and Pharmaceutical paid $65.2 million to acquire four small China pharmas; Guangdong Zhongsheng Pharma will spend $3.1 million to develop three novel drugs; Merck selected a member of WuXi PharmaTech’s board to be its own Chief Strategy Director; Nycomed has bought China marketing rights of an antihistamine from Almirall SA of Spain; the production value of mainland China’s pharmaceutical industry was up 30% in the first seven months of 2011; and Sinovac Biotech received a production license for RabEnd, an inactivated animal rabies vaccine. More details…..
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