China Biotech in Review: Thermo Fisher Scientific Displays Increased Commitment

chinabiotodaynewlogo ChinaBio Today submits:

Fosun Pharma [SHA: 600196] announced plans for a secondary listing on the Hong Kong exchange (see story). The company hopes to raise as much as $913 million in an offering that would increase its outstanding shares by up to 20%. Fosun is no stranger to the Hong Kong Exchange: both its parent and a subsidiary have listed there.

Shijiazhuang Xingbai Pharma of Hebei, a maker of biological pesticides, received a private equity investment of $18.3 million from Israel-based Infinity (see story). The financing is meant to increase Shijiazhuang Xingbais biotech capabilities, as the company makes plans for an IPO in the A-share market in three years.

Renhe Pharmacy [SHE: 000650] has plans for a 50 million share private placement, priced at 18.36 RMB per share, which will bring in $140 million (see story). Renhe, which makes and distributes OTC drugs, will use the money to buy stakes in four companies


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