China Biotech In Review: Sagent Buys Out China JV Partner For $25 Million May 12 2013, 03:54Sagent Pharmaceuticals (NSDQ: SGNT), a Chicago-area maker of generic injectible drugs, will acquire its partner's 50% interest in a China JV for $25 million (see story). Chengdu Kanghong Pharmaceuticals owned the other half of the JV, which was established in 2006 to build an FDA/GMP compliant manufacturing facility. Sagent apparently expects to use the China facility to manufacture products that supply the China and US markets. ScinoPharm Taiwan (TSE: 1789) and Coland Holdings (TSE: 4144) formed an alliance to bring generic oncology drugs to mainland China. The alliance has selected several of ScinoPharm's APIs for development as injectible treatments. A third party will develop and manufacture the products, which will be co-marketed by Coland and ScinoPharm. Although Coland is listed in Taiwan and headquartered in Hong Kong, its operations, including a sales force, are in China. Zhejiang Huahai Pharma (SHA: 600521) joined with Oncobiologics, a New Jersey biologics startup, to form a partnership that will develop, manufacture and promote biosimilars. Huahai will have exclusive rights to make and market four Oncobiologics-developed biosimilars in China. The two companies will also sign a co-development and commercialization agreement to bring the four products -- generic versions of Humira, Rituxan, Avastin and Herceptin -- to 30 developed countries. Hutchison Chi-Med [AIM: HCM] expects to license global rights to fruqintinib, one of its novel small-cell cancer drugs, before year-end, according to CEO Christian Hogg. The company has been in due diligence discussions with potential partners, he added. Because the drug is a promising treatment for solid tumors, Chi-Med will conduct simultaneous clinical trials against several types of cancer, and the company wants a partner to help shoulder the financial burden.Zhejiang Beta Pharma and Amgen (NSDQ: AMGN) will form a joint venture to commercialize Amgen's Vectibix® (panitumumab) in China (see story). Vectibix is a treatment for colorectal cancer. In addition to being experienced with targeted therapies, Zhejiang Beta also has a well-established China oncology sales network. The JV will be 51% owned by Zhejiang Beta, with Amgen holding the remainder.
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