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Week in Review: China’s Joinn Labs Buys Major Biopharma Campus in San Francisco
Deals and Financings
Joinn Laboratories, a pre-clinical CRO with facilities in
Shanghai Fosun Pharma (SHA: 600196; HK: 2196) continued to execute on its growth-by-acquisition strategy by paying $93 million for a 78% stake in Hunan Dongting Pharma, a company that makes CNS and hemostatic drugs (see story). Donging’s major product is quetiapine fumarate, marketed in global markets as Seroquel, an AstraZeneca (NYSE: AZN) treatment for schizophrenia and bipolar disorder.
Dahuanong Animal Health (SHE: 300186) paid $25.4 million to purchase a 60% stake in Foshan Standard Bio-tech, a fellow veterinary products company (see story). Dahuanong said the acquisition would add products to its portfolio, especially a chicken coccidiosis vaccine. Foshan Standard makes pharmaceutical preparations and feed additives, as does Dahuanong.
GrandPharma (HK: 512) of
The annual pilgrimage to
Government and Regulatory
Trials and Approvals
Zhifei Biological Product Co. (SHE: 300122) won SFDA approval to begin a Phase III trial of an existing product, Vaccae, as a vaccine for tuberculosis, a currently unmet need (see story). Vaccae is an immune system modulator that the company currently sells as an adjuvant to treat TB.
EntreMed (NSDQ: ENMD), a Washington DC-area biotech, has filed an application with the SFDA to begin clinical trials in