March 15, 2008 - Earnings reports had an effect on China biotech last week. For WuXi PharmaTech (NYSE: WX), the year-end financials had a positive effect, while the report from Tongjitang Chinese Medicine (NYSE: TCM) was in the definitely mixed category. China Aoxing (OTCBB: CAXG) offered $19.6 million to buy a TCM company; Tianyin Pharma (OTCBB: TYNP) took the name of its operating entity; the deal to take AsiaPharm Group (SI: ASPH) private fell into serious trouble; Global Research Services will begin offering full-service clinical trial management in China ; the effectiveness of a TCM leukemia drug was written up in a US journal; we took a look at CapitalBio, a Beijing-based maker of biochips; and, as we predicted, the SFDA became part of an enlarged Ministry of Health (MOH). More details...
