Week in Review: PerkinElmer Buys Haoyuan Biotech, a Diagnostics Company

PerkinElmer paid $38 million to buy Shanghai Haoyuan Biotech, a company that produces four diagnostic tests for infectious diseases; Innovent Biologics, a Suzhou antibody development and manufacturing company, announced a $25 million Series B financing; Hainan Haiyao signed a LOI to acquire a 40% stake in SinoMab Bioscience Limited, an antibody company; Orchid Chemicals and Pharma of India will sell its 50% stake in a China JV to its partner for $13.9 million; Roche and Swiss Re are offering insurance for Roche’s cancer drugs to China’s middle class; Thermo Fisher Scientific opened a new $20 million manufacturing plant in Suzhou; Promega Corporation, a US-based provider of biotechnology research tools, completed a new diagnostics manufacturing facility in China; and Simcere Pharma received SFDA approval to begin China clinical trials of an anti-angiogenesis treatment for cancer. More details…. Stock Symbols: (NYSE: PKI) (SHE: 000566) (BSE: 524372) (VX: ROG) (NYSE: TMO) (NYSE: SCR) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});