China Biologic Products, a blood products company, received a $4.6 billion takeover offer from a group of six investment firms. The proposal was priced at $120 per share, a 16% premium to the previous close. CBPO operates plasma-gathering facilities ...

 


 

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China Biologic Products Receives $4.6 Billion Takeover Offer

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

China Biologic Products, a blood products company, received a $4.6 billion takeover offer from a group of six investment firms. The proposal was priced at $120 per share, a 16% premium to the previous close. CBPO operates plasma-gathering facilities (China limits the number of such facilities) and offers 20 plasma-based products. The company is priced at about 30 times trailing earnings. One year ago, CITIC made a $3.9 billion offer for CBPO, which was topped by a syndicate led by a former CEO of the company. CBPO rejected both bids. More details....

Stock Symbol: (NSDQ: CBPO)

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Henlius Prices Hong Kong IPO at the Bottom of the Range, Raising $410 Million

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Shanghai Henlius Pharma raised $410 million in its Hong Kong IPO at a market cap of $2.9 billion, the low end of the range. The company is the majority-owned biologics subsidiary of Fosun Pharma. At the top end of the range, Henlius would have raised $477 million in its debut offering. Fosun and Henlius, a US company, formed the China biologics JV in 2010. In February, the company was approved for a China launch of a biosimilar to Roche's Rituxan, a lymphoma treatment. More details....

Stock Symbols: (HK: 2696) (SHA: 600196; HK: 2196)

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Innovent's Avastin Biosimilar Matches Efficacy of Original in Phase III Trial

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Innovent Biologics of Suzhou announced its Avastin (bevacizumab) biosimilar produced similar results to the original drug in a double blind Phase III trial. Both drugs were administered together with paclitaxel/carboplatin as a first-line treatment in patients with advanced non-small cell lung cancer (NSCLC). Innovent presented the data at the Chinese Society of Clinical Oncology (CSCO) earlier today. In late 2018, Innovent was approved to market its PD-1 drug, Tyvyt®, in China, the company's first launched product. More details....

Stock Symbol: (HK: 01801)

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Ping An Leads $15 Million Round in Riverain, a US Imaging Software Company

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

China's Ping An Insurance Company led a $15 Million investment in Riverain Technologies, an Ohio company that develops AI imaging software. Riverain's suite of patented ClearRead(TM) software tools are designed to improve a clinician's ability to detect cancer and other cell anomalies in thoracic CT and X-ray images. The software, which is already available in the US, is especially aimed at early detection of lung cancer. The investment will be used to bring ClearRead(TM) to global markets. Ping An's Global Voyager Fund made the investment. More details....

Stock Symbols: (HK: 2318; SHA: 601318)

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Covance Opens New Clinical CRO Facility in Shanghai

Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.

Covance, a global drug CRO, opened a new 12,000 square meter R&D center focused on clinical services in Shanghai's Zhangjiang Hi-Tech Park. The company claims the new center is the largest CRO facility in the Asia Pacific region. It offers clinical development and commercialization services, plus bioanalytical and central laboratory services. The new center is near Covance's other Shanghai facility, which focuses on Early Development services including safety assessment, metabolism and lead optimization. The company did not disclose the cost of its new R&D center. More details....

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Written by Richard Daverman, PhD, Executive Editor, Greg B. Scott.


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