A $774 million deal Hong Kong-listed Sino Biopharmaceutical planned to make by buying a stake in a Chinese asset management company has been axed by Sino after markets around the world have fallen, especially in China.
Beijing-based Sinovac Biotech is in play, with the board getting an unsolicited offer of $7 a share from a consortium of Chinese drug and investment firms, placing it 13% above a management-led offer of $6.18 a share days before for a firm that has a small, but growing, vaccine business in China.
China-focused SciClone Pharmaceuticals is reviewing a range of "strategic alternatives" to enhance shareholder value fresh off a settlement with the U.S. Securities and Exchange Commission on possible violations of the Foreign Corrupt Practices Act, or FCPA.
Pfizer came through a hectic fourth quarter with a major deal pending and at work on integrating an earlier one while at the same time trying to identify niches for both in emerging markets and particularly China.
An application by a team led by pharmacologist and Nobel Prize laureate Tu Youyou for clinical trials using antimalarial drug artemisinin to treat autoimmune inflammatory disease lupus is under review by China FDA, China.org.cn said.
Shanghai-based Qiming Venture Partners raised $648 million in commitments for its fifth U.S. dollar venture capital fund, putting its assets under management at $2.5 billion since a debut in 2006 to focus on a mix of China healthcare-related firms among other investments such as mobile phone maker Xiaomi, the company said in a release.
Fresh off a GMP certificate for its EV71 vaccine from the China FDA Beijing-based Sinovac Biotech management wants to take the firm private, giving up a U.S. listing in a financial tack followed by other firms that points to an eventual re-listing in Hong Kong.
A downbeat 2015 in emerging markets for Eli Lilly is set to continue into the coming year and beyond, executives said, though some brands remain strong and will take up most of the company's efforts in those regions, particularly in China.
Chinese Internet giant Alibaba suffered two blows this past week: the China Food and Drug Administration (CFDA) announced that it will no longer work with the company on an initiative to track medicines to ensure their authenticity, and a pharmacy chain has filed a lawsuit against the company saying the initiative gave it an unfair advantage over other drug sellers.
Japan was a standout for Roche in 2015, but a combination of price cuts for cancer therapy Avastin (bevacizumab) there and lower Tamiflu sales will show up in early 2016.