October 15, 2011 -- On October 10-11, the ChinaBio® Leadership Retreat–Taicang brought together 180 senior executives from the world of China life science to discuss and plan the future of China’s biopharma industry; WuXi PharmaTech acquired Abgent, a Suzhou and San Diego maker of antibiodies; BeiGene acquired China rights to two clinical-stage oncology compounds from Janssen; SemBioSys Genetics of Canada formed a China JV with Tasly Pharma of Tianjin to produce a plant-made insulin; Chiva Pharma of China paid $4 million for global rights to an osteoporosis drug developed by Ligand Pharma; Biostar Pharma paid $9.6 million to acquire Shaanxi Weinan Huaren Pharma; the University of Hong Kong signed a strategic agreement with Sinopharm; Sinocom Pharma withdrew its plans for an IPO on the Nasdaq exchange; ViroMed of Korea received SFDA approval to begin a China Phase II clinical trial of a gene therapy drug; AstraZeneca will spend $200 million to build a major new manufacturing facility in Taizhou’s China Medical City; and Sinovac Biotech was selected to provide flu vaccine to the Beijing CDC. More details….
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