The Week in Review: CROs Consolidating

PPD, Inc. will acquire BioDuro, a preclinical CRO, as a follow-up to its purchase last month of Excel PharmaStudies, both of which are major transactions; we reflected on the huge difference between how China and the US go about creating “life science clusters”; China enrolled a record number of students in American universities during 2008-9; China Cord Blood listed on the NYSE and also completed a secondary offering; Advanced BioMedical signed an agreement in China to develop its bio-absorbable material in new applications; China Medicine Corp. found investors who may put $59.5 million in the company; Jennerex licensed the China rights for its novel cancer drug to Lee’s Pharma; a wound healing product made by Oculus was approved for animal use; GlaxoSmithKline will begin manufacturing its treatment for flu, Relenza, in China; Goldman Sachs said Pfizer will see $3 billion of China sales in 2012; WuXi PharmaTech (药明康德) reported a modest increase in Q3 revenues and raised guidance; Sinovac Biotech (北京科兴生物制品有限公司) released a stellar Q3 report due to flu vaccine revenues; Tongjitang Chinese Medicines (同济堂药业) continues to report declining sales; and American Oriental Bioengineering (广西博科药业) said Q3 revenues rose 12% but net income fell 39%. More details... Stock Symbols: (NSEQ: PPDI) (NYSE: CO) (OTCBB: ABMT) (OTCBB: CHME) (NSDQ: OCLS) (NYSE: GSK) (NYSE: PFE)  (NYSE: WX) (NSDQ: SVA) (NYSE: TCM) (NYSE: AOB)