Shengtai Pharmaceutical, Inc. reported that its revenues climbed 76% in fiscal 2008 (ended June 30) to $91 million. Net Income was up 46% to $10.4 million. Shengtai makes and distributes pharmaceutical grade glucose products in China, as well as glucose and other products for the food and beverage industry. According to the company, the increased revenues and earnings were the result of a two-year investment program that integrated the company vertically and increased its production capacity. More details...
Stock Symbol: (OTCBB: SGTI)

Tianyin Pharmaceutical Co. released very positive full-year fiscal 2008 audited results, a year that ended June 30, 2008 for Tianyin. The company’s revenues grew 64% to $33.5 million while net income rose 51% to $6 million. The company reiterated that it expects a further increase in 2009 to at least $46 million in revenue and profit of $7.5 million. A few weeks ago, Tianying announced it expected 2008 numbers to hit these levels. More details...

Stock Symbol: (OTCBB: TYNP)

WuXi PharmaTech and Covance have decided not to continue their previously announced joint ownership of a preclinical laboratory, currently under construction. WuXi will now own 100% of the 323,450 square feet Suzhou facility, which was the company’s original intention. After announcing its plans to build the Suzhou facility one year ago, WuXi announced in June that it would form a 50-50 joint partnership with Covance to own and operate the facility. Now, it’s back to Plan A, which, emphasizing the positive, WuXi says will give shareholders “the full benefit” of the facility. No explanation was given for the change of plans. More details...

Stock Symbols: (NYSE: WX) (NYSE: CVD)

China Sky One Medical increased its full-year 2008 revenue and income guidance. The company upped its expectations for 2008 revenue by 9%, rising from $82 million to $89 million. Net income is now predicted to jump 5% higher. Instead of $26.3 million, the company expects to earn approximately $27.5 million. More details...

Stock Symbol: (NSDQ: CSKI)

Tianyin Pharmaceutical, which specializes in modernized traditional Chinese medicines, has been approved to list is shares on the American Stock Exchange. It will migrate from the OTC Bulletin Board on or before October 3, 2008 and trade using the ticker symbol TPI. More details...

Stock Symbol: (OTCBB: TYNP)

Phynova (AIM: PYN), a botanical drug company based in Oxford, UK, says it will now re-focus its efforts on China, with an emphasis on the China market, China drugs and perhaps some China acquisitions. Phynova has always had a China connection, including a 45% share in Botanic Century Beijing Ltd, a drug development company. Until now, Phynova has been using TCM preparations as a basis for developing drugs that would address unmet needs and pass clinical trials in the west. More details...

According to a recent news story, the first complaints about the tainted baby formula in China surfaced in December 2007, almost ten months ago. No formula was recalled until September 11. In December, the Sanlu Group, the company at the heart of the scandal, received the first notice from customers that something might be wrong with its infant formula products. The story means the coverup has been going on for six months longer than anyone previously thought.  More details...

Crown Bioscience will build a second China-located CRO facility; this one will be in Taicang City, Jiangsu Province. Crown Bioscience, whose pre-clinical expertise focuses on oncology, is based in Silicon Valley. Its existing operations are located in Beijing and Indianapolis, Indiana. Taicang City is seeking to build a presence in the CRO space. Away from the major centers of Shanghai and Beijing, Taicang has not experienced the same inflation in wages as China’s major biopharma centers. More details... 

Sinovac Biotech announced its intention to develop a vaccine against hand, foot and mouth disease, a childhood disease that is caused by human enterovirus 71 (EV71). To develop the vaccine, Sinovac will collaborate with the CDC of China, which will supply the company with epidemiology studies of recent outbreak areas. There is no specific treatment for enterovirus infections, and no vaccine is currently available. More details...

Stock Symbol: (AMEX: SVA)

Excipients, the inactive substances that stabilize and help deliver the active ingredients in pharmaceuticals, now has a champion in China: the International Pharmaceutical Excipients Council (IPEC) China. The new organization, made up of members of the China excipient industry, join similar organizations called IPEC Americas, IPEC Europe and JPEC in Japan. The group represents manufacturers, distributors and users of excipients. IPEC China expects to work with the SFDA in establishing standards for excipients. More details...

Stock Symbols: (NYSE: FMC) (NYSE: DOW) (NYSE: PFE)