Week in Review: Two Major China CROs Move Toward China Public Listings

Wuxi AppTec, China's largest CRO/CMO, began the application process for an IPO on a China exchange; ShangPharma will seek to merge its CRO/CMO operations with a China public company; Sihuan Pharma will acquire China's Ambest Pharma, a maker of large volume injections, for $160 million; C-Bridge Capital and Tasly Holding teamed up to invest $150 million in two young China biopharmas, which will be merged; Haoeyou, an internet-based remote medical service provider that links China patients with US doctors, raised $40 million in a Series A round; HitGen of Chengdu will collaborate with Merck/MSD to discover novel leads for Merck targets; a group of China investment companies closed their acquisition of medical device company Angiotech Pharma; the FDA approved an IND for a novel colorectal cancer treatment developed by Tarrex Biopharma, a San Diego-Xiamen company; and the CFDA is circulating a draft proposal that would speed up China approval of novel foreign drugs, especially global trials of novel drugs. More details.... Stock Symbols: (HK: 00460) (NYSE: MRK) Share this with colleagues: // //