Updated on 14 May 2013
PerkinElmer acquired Shanghai Haoyuan Biotech, a China-based infectious disease diagnostics company at $38 million, during November 2012. The acquisition extends PerkinElmer's capabilities into nucleic acid blood screening and in the growing molecular clinical diagnostics market in China. Also, US-based ConjuChem, which is engaged in discovery of novel therapeutics, formed a joint venture (JV) with China's Changshan Pharma, valued at $3 million. Similarly, US-based Promega opened its new facility in Shanghai for its China operations that provides additional R&D and cGMP manufacturing capabilities for molecular diagnostics products for the Chinese market.
Pfizer said in February 2013 that it will own 49 percent of a $295 million venture with Zhejiang Hisun Pharmaceutical to develop off- patent drugs in China, and Merck & Co inked a deal with Nanjing-based Simcere Pharmaceutical to produce cardiovascular medicines. March 2013, also saw Pathwork Diagnostics begin collaborating with Kindstar Global in China.
Swedish company, NeuroVive decided to grant Sihuan Pharmaceutical an exclusive license to develop, market and sell CicloMulsion and NeuroSTAT in China, as well as the intellectual property rights and know how in connection with the products to pass clinical trials. Both CicloMulsion and NeuroSTAT are currently undergoing phase II and III clinical trials respectively. China continues to shine, these deals are proof enough for the market.