October 20, 2012 at 10:36 AM EDT
Week in Review: Fosun Pharma to Spend $300 Million from Hong Kong IPO on M&A
Fosun Pharma expects tor raise $600 million in its upcoming Hong Kong IPO and will spend half of it on deals; Medtronic will pay $66 million to purchase a 26% stake in LifeTech Scientific, a Shenzhen cardiovascular medical device maker; Shenzhen Hepalink Pharma entered $21 million of deals with ProMetic Life Sciences of Canada; Legend Capital, a China PE/VC investment firm, believes innovative companies in China's medical device sector will become major entities; TNI BioTech of the US out-licensed the China rights for two R&D-stage cancer treatments to Hubei Qianjiang Pharma; Pharmaron, China’s third-largest CRO, announced a multi-year drug discovery partnership with AstraZeneca; WuXi AppTech officially opened its GMP manufacturing facility for biologic drugs, the first one in China compliant with US, EU and China standards; Shanghai has established an institute for advanced mAB studies and named a US researcher as director; and Complete Genomics, the California sequencing company, gained a partial victory in Illumina’s patent suit against Complete. More details…. Stock Symbols: (SHA: 600196) (NYSE: MDT) (HK: 8122) (SHE: 002399) (TSX: PLI) (PINKSHEETS: TNIB) (SHA: 600568) (NYSE: AZN) (NYSE: WX) (NSDQ: GNOM) (NSDQ: ILMN) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});  
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