Week in Review: First Novel China-Developed MAb Drug Gains CFDA Approval

Kanghong Pharma Group was granted CFDA approval for a novel monoclonal antibody that treats age-related macular degeneration; MicuRx Pharma, a San Francisco-Shanghai antibody company, will start a China Phase II trial of an antibiotic aimed at drug-resistant infections; Alvogen will pay $210 million for 67% of Taiwan’s Lotus Pharma, a fellow generic drugmaker; Hutchison China MediTech (Chi-Med) formed a drug distribution JV with Sinopharm, investing $9.8 million for majority control; Simcere Pharma shareholders voted to go private in a $506 million deal; GlaxoSmithKline made changes to two of its marketing practices, seeking a more ethical image; a Shanghai Pharma subsidiary was accused of bribing hospital staff to prescribe its drugs; and China’s police staged several raids on businesses selling counterfeit medicines, arresting 1,300 people nationwide. More details…. Stock Symbols: (AIM: HCM) (HK: 1099) (NYSE: SCR) (NYSE: GSK) (SHA: 601607; HK: 2607) Share this with colleagues: // //