Yabao Pharma Raises $74 Million in Secondary Offering

Yabao Pharmaceutical Group announced a 470 million RMB ($74 million) private placement. The proceeds will be invested in a cGMP production facility, quality control systems for Safflower production, a production line for solid preparations and other projects. In February 2011, Yabao announced a $50 million collaboration with Frontage Labs of Pennsylvania to develop sustained release versions of more than 20 products. More details.... Stock Symbol: (SHA: 600351)     Share this with colleagues: