Week in Review: Fosun Pharma’s Hong Kong IPO Raises $512 Million
Shanghai Fosun Pharma priced its Hong Kong IPO at a 13% discount to its Shanghai price, giving the transaction a value of $512 million; AstraZeneca signed a $150 million deal with Ironwood Pharma of the US to co-develop and co-commercialize Ironwood's novel constipation treatment in China; MicuRx Pharma, a US-China clinical-stage biopharma, raised $9.6 million from Shanghai Zhangjiang Biomedical Industry Venture Capital to develop its MRSA-resistant antibiotic; Kindstar Diagnostics will offer a heart failure diagnostic test in China that was developed by BG Medicine; US medical device makers Medtronic and GE Healthcare separately disclosed plans to target China’s second and third tier markets; LifeTech Scientific of Hong Kong will commercialize Broncus Technology’s LungPoint® Navigation System in China; and the second annual ChinaBio® Leadership Retreat concluded a successful summit, attended by 120 senior executives, focusing on the agenda “Rethinking China: A New Strategic Approach.” More details…. Stock Symbols: (SHA: 600196; HK: 2196) (NYSE: AZN) (NSDQ: IRWD) (NSDQ: BGMD) (NYSE: MDT) (NYSE: GE) (HK: 8122) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});  
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