Apr. 18, 2011
SciClone Pharmaceuticals of California has acquired Shanghai-based NovaMed Pharmaceuticals, a privately held company, for a price of ~$62 million. NovaMed is engaged in clinical development, registration and marketing of western drugs that are not yet launched in China and has collaborated with MNCs for their drugs’ launching in China. SciClone, though a US company, has its main market in China, which accounts for more than 90% of its annual sales.