Week in Review: Shanghai Pharma Acquires Cardinal's China Drug Distribution Network for $1.2 Billion

Deals and Financings   Shanghai Pharma paid $1.2 billion to win the bidding war for Cardinal Health's China drug distribution operations, making Shanghai Pharma the largest drug distributor in China ; Arcus Biosciences, a Bay Area biotech with an in-licensed, China-discovered drug candidate, announced a $107 million financing that included China investors; Adlai Nortye of Hangzhou entered a $86.6 million in-licensing agreement to develop an Oncolytics' immuno-oncolytic drug in Greater China; Zensun ( Shanghai ) Science & Technology raised $76 million to complete development of Neucardin™, a novel treatment for chronic heart failure; Cygnus Biosciences, a Beijing company developing an innovative sequencing technology, raised $19.6 million in a B Round; Pfizer sold its 49% stake in a China generic drug JV that was formed five years ago with Zhejiang Hisun Pharma at an undisclosed price;   Corestone Biosciences, a Beijing medical device startup, formed a China JV with Boston 's Respiratory Motion to offer respiratory volume monitors in China ; Shanghai Pharma said it wants to keep doing international deals to expand its portfolio of drug offerings and export products to foreign markets; Trials and Approvals Ascentage Pharma, a China-US company, reported the US FDA accepted its IND submission to begin clinical trials of an apoptosis-inducing drug;   Kunshan RiboQuark Pharma has dosed the first person in a China trial of a siRNA ocular neuroprotectant therapy, a treatment for "stroke in the eye." Stock Symbols: (SHA: 601607) (NYSE: CAH) (NYSE: PFE) (SHA: 600267) Share this with colleagues: // //