by Richard Daverman, PhD
October 26, 2013 -- Shanghai Fosun Pharma sold ex-China rights for two pre-clinical drug candidates – one treating cancer, the other diabetes – to Sellas Clinicals Holding of Greece for $531 million in upfront payments and clinical milestones; Fosun Pharma also out-licensed China rights for the same diabetes drug to Shenzhen Salubris in a $4.1 million deal; Morningside Group of Hong Kong invested $10 million into Kona Medical, a US medical device company with an ultrasound treatment for hypertension; Kindstar Global, the China diagnostic testing lab, will offer two cancer tests developed by Advanced Cell Diagnostics of California to China hospitals; China’s pharma market will continue to grow at a 17% annual rate from now until 2020, tripling in value to reach $310 billion, Boston Scientific received CFDA approval for its Alair® device that treats asthma that is not controlled by drugs; Adimmune of Taiwan is planning to export its flu vaccines to China; and GlaxoSmithKline’s China drug revenues fell by an astonishing 61% in Q3 as fallout from the company’s bribery scandal. More details….
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