March 1, 2008 -- China Sky One Medical put some of its newly raised cash to work, paying $8.3 million to buy Heilongjiang Tianlong Pharma; Lotus Pharma garnered $5 million in a private placement; the time limit has expired on a $146 million agreement to sell the OTC drug business of Topsun Technology to Bayer AG; Novartis revealed that Novartis-China generated 2.5 billion RMB ($342 million) of revenue during 2007; China Pharma Holdings highlighted the revenues of its generic cold medication; BMP Sunstone announced that Propess® was recommended as a first-line treatment for labor induction; Provectus Pharma was granted patents in China and Europe for a cancer imaging agent; and the Executive Editor of ChinaBio® Today, Greg Scott, took questions from CCTV and Windover Information on the state of biopharma in China. More details...
