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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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»06/05/2010 [Industry news]
Hepalink defies China market gloom on debut

While the rest of the Chinese stock market dropped more than 4 per cent on Wednesday, the most talked about initial public offering of the month managed a surge of 18.4 per cent on its trading debut,

 
By Jamil Anderlini in Beijing While the rest of the Chinese stock market dropped more than 4 per cent on Wednesday, the most talked about initial public offering of the month managed a surge of 18.4 per cent on its trading debut, helping the country’s richest couple get a little bit richer. Shenzhen Hepalink Pharmaceutical finished its first day of trading on the Shenzhen stock exchange at Rmb175.17 per share, well up from its IPO price of Rmb148, which was already the most expensive IPO valuation ever in modern China. The rich IPO valuation catapulted Li Li and his wife Li Tan, Hepalink’s founders and majority shareholders, from obscurity to become the richest people in China overnight last week. The IPO also provided US investment bank Goldman Sachs with a 20,000 per cent unrealised return on the $4.9m it invested in Hepalink in 2007. Goldman’s 12.5 per cent share in the company was worth more than $1.15bn by close of trade on Thursday. The stake is subject to a one year lock-up period. Hepalink makes just one drug, a commonly used blood thinner called heparin, but the company has a huge advantage over competitors because it is the only Chinese company with approval from the US Food and Drug Administration to export finished heparin to the US.

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