The Week in Review: Are WuXi PharmaTech and ShangPharma Takeover Targets?

WuXi PharmaTech and ShangPharma are both attractive M&A targets, with higher profit margins and lower PE ratios than their US competitors; Cardinal Health will make $90 million in China acquisitions to bolster its drug distribution coverage; Tianjin Tasly Pharma and SemBioSys Genetics of Canada received business licenses for their China JV; Transgene formed a scientific cooperation program with three European institutions and Fudan University Shanghai Cancer Center; the Beijing FDA added new categories of drugs for fast-track status; Steve Yang, AstraZeneca’s VP for R&D in Asia, says the company’s China R&D operation aims to “transform how we do R&D;” AstraZeneca announced another 7,300 layoffs in the US and Europe as it adds activities in China; and Frontage Labs announced its completed a Phase I trial of a China botanical drug in the US. More details…. Stock Symbols: (NYSE: WX) (NYSE: SHP) (NYSE: CAH) (SHA: 600535) (TSX: SBS) (Euronext: TNG) (NYSE: AZN) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});