Tasly Pharma and Transgene Form JV

Tianjin Tasly Pharmaceutical Co. Ltd., which makes TCM products, will form a JV with Transgene SA Ltd. of France to develop biological drugs. The initial product is Urokinase, an enzyme drug used to break up blot clots, which is usually sourced from cultured human kidney cells. The JV will be owned 50-50 by the two companies, with each one contributing 1 million RMB ($146,000). More details...