February 16, 2008 -- Charles River Labs (NYSE: CRL) said its China CRO work comes from the local labs of international biopharma, not from labs in the US or Europe that want inexpensive drug development. Charles River said it is prospering because of the “virtualization” of big biopharma. A subsidiary of Mylan Labs (NYSE: MYL) has upped its ownership of China-based Mchem Group; Chemizon, a drug discovery company with labs in Korea and Beijing, announced a new company to develop products discovered at the Korean Research Institute; SurExam secured the China rights to develop a test for early stage ovarian cancer discovered at Yale; Tianyin Pharma (OTCBB: VSCO) reported strong financials for 2008’s first half; and Baxter’s (NYSE: BAX) heparin, which was recalled because of side effects, sourced its heparin API from China. More details...
