July 1, 2007 – AstraZeneca is already a big player in China biopharma, but it will add a new initiative to its Chinese operations: a sourcing center in Shanghai. AstraZeneca currently makes 85% of its own APIs, outsourcing the rest. In a major change, the company plans to cease manufacturing most of its own APIs. Beijing Double-Crane announced a secondary offering that restructured its relationship with its corporate parent, and American Oriental also floated a secondary issue of stock. Microbix Biosciences licensed its single-sex semen cattle breeding product to a Chinese distributor, and Syngenta will collaborate with the Institute of Genetics and Development Biology of Beijing to develop drought-resistant crops. Also last week, the Chinese government announced ambitious goals for developing its bioindustry. More details...
