Wuzhou Zhongheng paid $52 million for a 10% stake in Israel’s Oramed Pharma and China rights to its two oral diabetes treatments; Hadasit Bio Holdings, a medical transfer technology company located in Jerusalem, announced a $2 million investment from unspecified Chinese investors; Provectus Biopharma signed an LOI with Boehringer Ingelheim (China) for China development of Provectus’ lead cancer molecule; Desano Pharma of Shanghai struck a deal with ViiV Healthcare to make the API for GlaxoSmithKline’s new HIV drug; a new official China study shows that 25% of China’s adult population suffer from hypertension and almost 10% have diabetes. Colorcon, a privately held US CRO/CMO excipient maker, opened a lab in Beijing; and Zhejiang Kanglaite Group will start a large US Phase III trial of its lead drug, Kanglaite, a TCM-derived medication, in patients with pancreatic cancer.
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