The Week in Review: FDA to Step Up Inspections of Foreign Drugmakers

The US plans to raise $299 million in fees to fund greatly increased FDA inspections of foreign drugmakers; China’s NDRC ordered price cuts on 82 different drugs, most of them from foreign pharmas; Mingyuan Medicare will pay $55 million to acquire a 70% stake in Shanghai Yuanqi, an IVD company; Bohai Pharma will acquire fellow TCM drugmaker Yantai Tianzheng Pharma for $35 million; China Medical Technologies will collaborate with Germany’s Leica Biosystems on IVD chips for cancer; ShangPharma announced a program that may buy back up to $10 million of the company's stock; ShangPharma also said its new biologics division will have close to 100 employees by the end of 2011; and WuXi PharmaTech reported Q2 revenues climbed 25% to $101.1 million. More details…. Stock Symbols: (HK: 00233) (OTCBB: BOPH) (NSDQ: CMED) (NYSE: SHP) (NYSE: WX)