Founder Group May Bid For Chongqing Medicines
This article was originally published in PharmAsia News
Chongqing Chemical & Pharmaceutical Holding (Group) Co. may be divesting strategic partner Sichuan Dikang's 43 percent equity in subsidiary Chongqing Medicines after Dikang pulled out of its investor agreement. This leaves the field open for Founder Group, which previously failed in its bid to invest in Chongqing Medicines, to take over the shares and become one of the largest pharmaceutical corporations in southwest China. Founder attained 47.3 percent share of Southwest Synthetic Pharmaceutical Corp. in 2003, then took over control of Chongqing Daxin Pharmaceutical Co.; these two enterprises form part of Chemical & Pharma's stable. Both achieved better performance after Founder's buy-in, and the track record will favor Founder's pursuit of Chongqing Medicines. (Click here for more)
You may also be interested in...
Abbott reported strong sales for diagnostics and devices in the third quarter and raised its full-year EPS guidance to $3.55 per share.
Vifor CEO Stefan Schulze tells Scrip that an expanded deal with Korsuva developer Cara Therapeutics means the US biotech will not have to invest in a commercial organization as the Swiss firm will mobilize its well-established sales force to launch the treatment for dialysis patients with CKD-associated pruritus.
A randomized trial demonstrated the superiority of Medtronic’s DTM spinal cord stimulation waveform over conventional spinal cord stimulation for treating back pain.