By: ChinaBio® Today
August 17, 2013 at 05:55 AM EDT
Week in Review: OrbiMed Announces $300 Million Asia Life Science Fund
OrbiMed Advisors will raise $300 million for a new private equity fund that will invest exclusively in Asian life science companies; Teva is seeking a strategic alliance with a China company to increase its presence in that growing market; Qilu Pharma will spend $1 billion to construct a large biopharma park in its home town of Jinan; Mindray Medical of Shenzhen formed a US partnership with MedTest, a clinical diagnostic company; WuXi PharmaTech raised guidance for 2013 after reporting strong Q2 results; Cosmederm of San Diego and Shenzhen received CFDA approval for its topical OTC anti-itch treatment; and China’s State Administration for Industry and Commerce began a new three-month investigation of bribery in China’s pharma and medical services industries. More details….. Stock Symbols: (NYSE: TEVA) (NYSE: MR) (NYSE: WX)
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