August 14, 2010 -- China’s 12th Five Year Plan (2011-2015) for biopharma may have over 10 billion RMB ($1.5 billion) in development support for new drugs; the total 2009 output value of China’s pharmaceutical sector topped 1 trillion RMB ($148 billion) in 2009; WuXi PharmaTech will spend $100 million to build a new R&D facility in Wuhan; Kanghui Holdings priced its IPO at $10.25 per ADS and moved higher; Mindray Medical reported higher numbers for Q2 but lowered guidance; QIAGEN expects its China revenues to double this year; Tianjin Tasly Pharma reported positive Phase II results from a US trial of its TCM treatment for angina; Sinobiopharma partnered with Jiangsu Lianhuan Pharma to develop a hypertension drug; and Simcere Pharma received SFDA approval to market a drug that treats cancer-induced nausea. More details….
