July 23, 2011 -- The ChinaBio® Investor Forum–Jinan chose Cardeus Pharma and Beijing UniMedex as the “Most Promising” of the startup companies presenting at the forum; Merck will form a China JV with Simcere Pharma to provide branded drugs to the China market; Shijiazhuang Yiling Pharma upped the value of its ChiNext IPO to $348 million; Guangdong Biolight Meditech and Zhejiang D.A. Diagnostics completed IPOs on the ChiNext Exchange; Sihuan Pharma will sell 50% of a subsidiary to Shandong Buchang Pharma for $98.6 million; Chongqing Zhifei Biological will not acquire Bilthoven Biologicals; Ascletis announced new support from Hangzhou, China and Research Triangle Park; the NDRC will force a sell-off of TCM raw material stockpiles to lower prices; and Beijing BeiLu Pharmaceutical ended its agomelatine development project. More details….
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