January 31, 2009 -- NovaMed Pharma paid $5 million for the China rights to a cancer pain drug, Abstral, from Orexo; Tianyin Pharma will begin its previously announced $3 million stock buyback; Sinovac Biotech will begin a trial of a veterinary rabies vaccine; China YCT International Group reported that Q3 revenues surged 60% higher to $8.6 million; Sinobiopharma announced six-month revenues jumped 220% to $1.9 million; the market for cancer drugs in China grew 22% in 2007 to 25.5 billion RMB ($3.6 billion); in January, six individuals in China have contracted bird flu, and five of them have died; and we published the second of three installments on China’s newly enacted, and soon-to-be-effective, revision of its patent law. More details...
