Despite the continuing economic crisis, investment in China biopharma continued apace last week. The Municipal Government of Beijing said it will make grants to biotech of 505 million RMB ($74 million) during the last two years of the 11th Five Year Plan (2006-2010); Lotus Pharma (????????) paid $7.9 million for Yipubishan, an ulcer drug; OriGene Technologies purchased the assets of Shenzhen P&A Biotech, which provides monoclonal antibodies for the research industry; China Pharma Holdings began a clinical trial of a generic version of the hypertension drug Candesartan; Sinobiomed replaced its entire management team; Pharmacyclics may be developing a business model that involves China; Genesis Pharmaceuticals (????) said its revenues jumped 24% during its Q2, but net income moved up only 4%; and China-Biotics announced its Q3 revenues climbed 33% to $15.8 million while net income rose 40% to $5.7 million. More details...
Sinobiomed Inc. has replaced its entire management team with people who have both venture capital and industry experience. Sinobiomed is up against the ropes financially – it has no cash and little in the way of revenues. It talks about its ten recombinant products – three on the market, four in clinical trials and three in research and development – but with only $347,000 in cash, just $827,000 in revenues (for nine months), and a net loss of $4.1 million (also for nine months), the company must do something quickly. It is looking at a working capital deficiency of $14.3 million. More details...
Earnings reports for China biomedical companies continued to be released at a slower pace over the past five days. Lotus Pharma announced its revenues climbed an admirable 51% but net income dropped 27%; Sinobiomed emphasized its pipeline rather than its revenues, which are falling; and China Shenghuo Pharma said it will have to restate its reports because of irregularities; Smith & Nephew will expanding two China manufacturing facilities; CRO Venturepharm Labs purchased 44% of the US CRO, Commonwealth Biotechnologies; and MicuRx Pharma picked its first preclinical development candidate, a next-generation antibiotic. More details...
Sinobiomed has issued a number of press releases in recent days, each detailing the company’s progress in developing a new drug. But its financial reports are harder to find. You can’t really blame them: the company’s financial situation is dismal, so who would want to talk about that? Sinobiomed’s hope is that one of its products in development will turn its fortunes around sometime in the very near future. Meanwhile, the company is scraping along, depending on short-term financial patches to keep bankruptcy at bay. More details...
In ChinaBio® Today, we profiled two China biotechs last week. One, Shenogen Pharma Group, won one of the two “Most Promising Company” awards at the recent ChinaBio® Investor Forum, The other profiled company, Beike Biotechnology, provides stem cell treatments for a variety of difficult-to-treat maladies. Bridge Labs announced plans to build a second preclinical facility in China; Lotus Pharma will construct a manufacturing plant in Inner Mongolia; Zhejiang Huahai Pharma will provide finished product, not just APIs, to Merck; Tianyin Pharma was given SFDA approval for a generic version of the statin simvastatin; CompuMed received approval from the SFDA to market its osteoporosis diagnostic software in China; Bayer and Onyx Pharmas were awarded SFDA approval for their cancer drug, Nexavar®; Huifeng Bio-Pharmaceutical remains on track to gain approval to provide Diosmin to Safic-Alcan; NovaMed Pharma added a sixth drug to the list of pharmaceutical products it distributes in China for Sanofi-Aventis; and Sinobiomed received part of a new $500,000 funding. More details...
Many investors may not be aware that there are two basic types of pharmaceutical products on the market. Chemical Pharmaceuticals are the types that people usually see created from basic chemical compounds. Biopharmaceuticals[More...]
Earnings reports for China biomedical companies continued to be released at a slower pace over the past five days. Lotus Pharma announced its revenues climbed an admirable 51% but net income dropped 27%; Sinobiomed emphasized its pipeline rather than its revenues, which are falling; and China Shenghuo Pharma said it will have to restate its reports because of irregularities; Smith & Nephew will expanding two China manufacturing facilities; CRO Venturepharm Labs purchased 44% of the US CRO, Commonwealth Biotechnologies; and MicuRx Pharma picked its first preclinical development candidate, a next-generation antibiotic. More details... Stock Symbols: (OTCBB: LTUS) (OTCBB: SOBM) (AMEX: KUN) (NYSE: SNN) (HKEX: 8225) (NSDQ: CBTE)[More...]
Sinobiomed has issued a number of press releases in recent days, each detailing the company’s progress in developing a new drug. But its financial reports are harder to find. You can’t really blame them: the company’s financial situation is dismal, so who[More...]
In ChinaBio® Today, we profiled two China biotechs last week. One, Shenogen Pharma Group, won one of the two “Most Promising Company” awards at the recent ChinaBio® Investor Forum, The other profiled company, Beike Biotechnology, provides stem cell treatments for a variety of difficult-to-treat maladies. Bridge Labs announced plans to build a second preclinical facility in China; Lotus Pharma will construct a manufacturing plant in Inner Mongolia; Zhejiang Huahai Pharma will provide finished product, not just APIs, to Merck; Tianyin Pharma was given SFDA approval for a generic version of the statin simvastatin; CompuMed received approval from the SFDA to market its osteoporosis diagnostic software in China; Bayer and Onyx Pharmas were awarded SFDA approval for their cancer drug, Nexavar®; Huifeng Bio-Pharmaceutical remains on track to gain approval[More...]
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