The 8th ChinaBio® Investor Forum, held May 19-20, 2010 in Shanghai, concluded a successful meeting by giving “Most Promising Company” awards to three young China life science companies: Advanced Cell Diagnostics, a maker of diagnostic tests; Reach Surgical, a medical device company developing surgical instruments; and Magpie Pharmaceuticals, a drug discovery company with novel drug candidates for diabetes and Parkinson’s disease (see story).

Hainan Honz Pharmaceutical Co. (GEM: 300086) staged its IPO on the Shenzhen GEM exchange this week, raising 1.5 billion RMB ($238 million) by selling 25 million shares at a price of 60 RMB ($8.80) each (see story). The company, a major maker of pediatric drugs, is the first company from Hainan to list on the exchange. In open market trading, Hainan Honz fell slightly to 59.88 RMB ($8.67).

Charles River Laboratories (NYSE: CRL) defended its $1.6 billion purchase of much-smaller WuXi PharmaTech (NYSE: WX) (药明康德) yesterday, even though the transaction will bring only incremental profit growth in the near term (see story). According to CEO James C. Foster, WuXi gives Charles River a major foothold in China, a significant market for CRO services. Plus, the purchase takes Charles River into a new business sector: early-stage drug discovery.

Radient Pharma (NYSE AMEX: RPC) now plans to acquire a “well-managed, China-based” pharmaceutical company to take over management of its rogue Jade Pharmaceuticals subsidiary (see story). The combined company, which will have a broader base of products than Jade’s current offerings, will seek financing and eventually be listed publically on a US exchange.

Hemispherx Biopharma (AMEX: HEB) of the US has struck a deal with China CRO Fountain Medical Development under which Fountain will file to gain SFDA approval for a clinical trial of Ampligen® in China (see story). Ampligen is an antiviral that seeks to amplify an individual’s immune response. In the trial, the drug will be tested as a treatment for patients hospitalized with the flu, many of whom have underlying respiratory diseases.

Dehaier Medical Systems (NSDQ: DHRM), a Beijing-based medical products maker and marketer, signed an exclusive agreement for China distribution rights of Heyer Medical’s line of ultrasonic nebulizers (see story). Heyer says its Cumulus Nebulizer, which is used to treat conditions such as asthma, bronchitis and other respiratory infections, is suitable for hospital or home use.

Astellas Pharma of Japan plans to hire 300 sales employees in China in a bid to double its China sales in five years (see story). Although Astellas did not break out separate figures for China, its Asia revenues (including China) are expected to be $395 million this year. By the end of the March quarter in 2015, the company wants to increase that number to $670 million.

Smith & Nephew (NYSE: SNN), an international medical device company, opened its new 10,000 square meter manufacturing plant in Beijing this week (see story). It will produce surgical instruments and components of the company’s artificial hip and knee replacement products. Last year, Smith & Nephew opened another China manufacturing facility, a plant that makes wound dressing products in Suzhou.


Disclosure: none.