February 2, 2008 -- KPMG released a 2008 venture capital forecast, drawn from a poll of 350 industry insiders, saying that China will gather the most investment dollars of any ex-US country, and biopharma was second as the most likely sector to receive the most dollars. Looking back at 2007, private equity investing was on a roll, raising 151% more funds. We also published the fourth (and last) installment reviewing changes in China’s patent laws last week. In individual company news, WuXi PharmaTech held a conference for its suppliers and asked for better terms; Baxter will buy the 40% of its Shanghai-based JV that it does not already own; bioMérieux set up a JV with Shanghai Kehua to produce bioMérieux’s diagnostic test kits; China Pharma Holdings was granted SFDA approval for a generic diuretic; and AlphaRx will apply for China approval of its topical arthritis drug, Indaflex™. More details...Stock Symbols: (NYSE: WX) (NYSE: BAX) (Euronext: BIM) (SHE: 002022) (OTCBB: CPHI) (OTCBB: ALRX)
