Week in Review: Fosun and Sinopharm Announce $1 Billion Drug Logistics JV

Shanghai Fosun and Sinopharm will form a JV to build a nationwide drug/medical device logistics network, investing up to $1 billion for the early stage of the effort; Sichuan Kelun Pharma paid $51.5 million to buy a 5% stake in Lijun International; Hutchison Chi-Med’s China drug distribution JV was granted rights to market six prescription TCM drugs in China; a Novo Nordisk partnering director told a ChinaBio® Partnering Bootcamp that the company was looking for “differentiation" in partners; venture investing in China's life sciences industry continued a three-year upswing in 2013, topping $1 billion last year; Baxter officially opened a $56 million China R&D center in Suzhou Industrial Park; the Beijing Institute of Genomics and its partner Zixin Pharmaceutical unveiled a powerful China-developed genomic sequencing machine; MicroDiag Biomedicine of Suzhou presented its serum circulating DNA cancer mutation detection assay at the recent ASCO meeting; Jiangsu Hengrui Medicine announced that apatinib, its metastatic gastric cancer treatment, successfully completed a Phase III trial; and Biomerica received CFDA approval for China marketing of two sets of blood tests. More details…. Stock Symbols: (HK: 656) (HK: 1099) (SHE: 002422) (HK: 2005) (AIM: HCM) (NYSE: BAX) (SHE: 002118) (SHA: 600276) (OTCBB: BMRA) Share this with colleagues: // //