News & Analysis

TCT Medical Books $10 Million Investment from Fidelity Mar 11, 2010: TCT Medical Technology, a China medical device company that focuses on the OB/GYN market, has raised $10 million in new capital from two Fidelity funds. TCT claims to be the largest high-tech medical equipment and supplies importer in China within women’s health. It is the exclusive distributor in China of Cytyc’s ThinPrep pap test, the world’s leading cervical cancer screening product. More details...

Sundia MediTech Founder Receives “Entrepreneur of the Year” Award Mar 11, 2010: Xiaochuan Wang, PhD, a returnee who founded Shanghai’s CRO Sundia MediTech (桑迪亚医药技术（上海）有限公司) in 2004, was named the Asia-Pacific Entrepreneur of the Year by BioSpectrum. From its beginnings in 2004, Sundia has grown to an organization with 400 employees, including more than 300 scientists, which offers CRO services to over 90 customers from the US, Europe and Japan. More details...

EA Inc. Raises $6.6 Million from OrbiMed Mar 10, 2010: EA Inc., a company that makes invisible dental braces, completed a $6.6 million Series A financing led by OrbiMed, which provided “nearly all” of the funds, along with individual investors. OrbiMed characterized the financing as a restructuring of EA Inc. More details...

Lotus Pharma Breaks Ground on New Building Mar 10, 2010: Lotus Pharmaceuticals (路坦制药有限公司) has begun construction of nine-storey building complex the will provide offices, R&D, production, and storage. The new facility is being built on the grounds of its existing production facility in Beijing. More details...

Stock Symbol: (OTCBB: LTUS)

WuXi PharmaTech Reports Solid Performance in 2009 Mar 8, 2010: As expected, WuXi PharmaTech (药明康德) reported 2009 net revenues of $270 million, an increase of 7%. Net income climbed to $52.9 million compared to a loss of $64.2 million in 2008, when the company took a significant $49.3 million writedown of its US-based biologics manufacturing business, which was part of its AppTec acquisition. Revenues matched analysts’ expectations, while earnings were slightly below forecasts. More details...

Stock Symbol: (NYSE: WX)

SEED Competition for China Life Science Announces Finalists Mar 5, 2010: Fifteen entrepreneurs from a broad spectrum of life science fields were selected as Finalists in the SEED Competition, which makes them eligible to compete for the Grand Prize of 300,000 RMB ($45,000). The awards were made at the SEED Finalist Coaching Day event held in Shanghai’s Zhangjiang Hi-Tech Park earlier this week. Over 140 people attended the event. Roche, OrbiMed, and McKinsey organized the SEED competition, which was managed and presented by ChinaBio® Accelerator. More details...

Stock Symbol: (SW: ROG)

Hutchison MediPharma May IPO within Two Years Mar 5, 2010: Chi-Med plans to spin off its drug development arm, Hutchison MediPharma, within two years, possibly through an IPO on the Nasdaq exchange. According to the company, the offering would be the largest Nasdaq IPO of a China biotech. At the same time, Hutchison MediPharma is seeking a partner for its lead product, HMPL-004, a treatment for ulcerative colitis that recently released positive results from a Phase IIb trial in the US. More details...

Stock Symbol: (AIM: HCM)

Mindray Raises $152.8 Million in Secondary Offering Mar 5, 2010: Mindray Medical (迈瑞医疗国际有限公司),, the medical device company, priced a secondary offering of 4 million American depositary shares at $38.20 per ADS, raising $152.8 million in new cash. Mindray closed the previous trading session at $38.00. Because Mindray seems to have plenty of cash, the offering was a surprise, and may indicate the company is eyeing some future acquisitions. More details...

Stock Symbol: (NYSE: MR)

China Pharmaceutical Market Growing at 22% Clip Mar 4, 2010: China’s life science industry is growing quickly, and most experts in the prediction industry place the rate of growth at about 20%, a very healthy number. IMS Health, a global pharmaceutical consultancy, expects slightly better results for China: 22% compound annual growth rate during 2010-2013. That compares to a 4% to 6% rate in the global market. In fact, IMS Health thinks China will be responsible for 21% of all growth in the global pharmaceutical market in the next four years. More details...

Stock Symbol: (NYSE: RX)

Sanofi-Aventis Looking for More China Partnerships Mar 4, 2010: Sanofi-Aventis wants to continue building its presence in China. Company officials said Sanofi-Aventis will seek additional partnerships following the joint venture announced last month with Minsheng Pharmaceutical, a JV that will develop vitamin and mineral products in the consumer healthcare sector. Sanofi has gone on record to say it prefers the partnership approach in China, as opposed to building its own R&D center. More details...

Stock Symbol: (NYSE: SNY)