Another Chinese biopharma lines up for a billion-dollar IPO

Chinese drugmaker Simcere Pharmaceutical is plotting a Hong Kong IPO worth up to $1 billion, according to reports, joining a slew of local biopharma companies headed to the public markets. The company, once traded on the New York Stock Exchange, is marshaling its resources to float shares closer to home, the Wall Street Journal reports. Meanwhile, Jiangsu Hansoh Pharmaceutical is reportedly considering a similar move, setting sites on a $3 billion market debut, and Xiuzheng Pharmaceutical is said to be lining up for a $1 billion raise. Last year, China biotech 3SBio pulled in more than $700 million in a Hong Kong IPO of its own. Read more from FiercePharmaAsia

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