By: ChinaBio® Today
February 09, 2013 at 02:57 AM EST
Week in Review: Cardinal Health Uses M&A to Add Drug Distribution Reach in China
Cardinal Health, a US drug distributor, spent $120 million to acquire six China drug distributors during the last year, paying less than $30 million for each one; 3SBio of Shenyang will be taken private by Dr. Jing Lou, its Chairman and CEO, along with a CITIC Private Equity company; Neusoft, a China software company, will buy out Phillips, its medical imaging JV partner; Zheijang Hisun Pharma will not purchase China rights for Celsion’s cancer drug, which failed its Phase III trial; Grandhope Biotech of Guangzhou in-licensed China rights to an autologous stem cell tendon-repair technology from Orthocell of Australia; CVie Therapeutics, a Lee's Pharma (HK: 00950) subsidiary, bought China rights to a Dyax treatment for hereditary angioedema; Janssen Pharma, a division of Johnson & Johnson, officially opened its China R&D Center in Shanghai Fenglin Life Science Park; and Solasia of Japan received SFDA permission to begin China trials of its anti-nausea patch product. More details…. Stock Symbols: (NYSE: CAH) (NSDQ: SSRX) (SHA: 600718) (SHA: 600267) (NSDQ: CLSN) (SHE: 300238) (NSDQ: DYAX) (NYSE: JNJ) Share this with colleagues: // //
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