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Week in Review: Tasly Buys Stake in TCM Maker for $25 Million
Deals and Transactions
Tianjin Tasly Pharma (SHA: 600535) acquired a 45% stake in Henan New Century Pharmaceutical for 151 million RMB ($24.7 million) (see story). New Century is a TCM maker whose primary product is Xingnaojing injection, a treatment for stroke. The drug has a wide range of indications combined with minimal side effects. Xingnaojing injection is the second best-selling cerebral TCM product in China. Tasly’s portfolio already includes salvianolic acid injection, also a stroke treatment.
Hefei Life Science will fund the China clinical development of a drug eluting stent produced by Micell Technologies, a North Carolina interventional cardiology device maker (see story). Once the stent is approved by the CFDA, Micell will continue to manufacture the MiStent SES. Sinopharm will be responsible for distribution, and SinoMedCare of Shanghai will contribute marketing and sales support. The agreement includes annual purchase commitments after the product is approved for sale. Hefei Life Science was established to bring high-tech bio-pharmaceutical projects with good market prospects to Hefei Life Science Park.
Sanofi (NYSE: SNY) is taking the “big picture” approach to emerging markets, according to its CEO, refusing to stop investing in developing countries because of pricing pressure and government crackdowns (see story). In fact, Sanofi will continue to seek acquisitions in emerging markets, said Chris Viehbacher, Sanofi’s CEO, and it will presumably also forge partnerships, as it has done in China. There will be occasional setbacks, he continued, but the markets are too important to ignore.
Parexel (NSDQ: PRXL), the US clinical-stage CRO, has formed Dĭng Huī China Trials Solution, a Beijing company that is dedicated entirely to conducting trials that will gain product approvals in China (see story). The rest of Parexel’s China offices participate in global clinical trials as well as China-specific tests.
Trials and Approvals
Lee's Pharma (HK: 0950) of Hong Kong reported that its China registration study of Trazodone as a treatment for depression met its primary endpoint (see story). Lee’s in-licensed Trazodone (Trittico®) from Italian pharma Angelini. The Trazodone cohort of the trial showed a statistically significant improvement over placebo on a depression measurement scale.