In July, after a nine-month hiatus, the IPO window in China suddenly reopened. Who won the distinction of being first IPO out of the box? A middle-sized TCM company with an expertise in lozenges, Guilan Sanjin Pharmaceutical Company. Sanjin was anything but a one-shot phenomenon, because three other pharma-connected companies have followed in the two months since Sanjin made its debut, and each of them was also well received. Three more China pharmas are set to IPO on the new GEM exchange. The success of these offerings dispels, without a doubt, the myth that pharma IPOs are dead. More details...