Bao Pharmaceuticals Co. Ltd., a developer of subcutaneous biologic drugs, priced its IPO at HK$26.38 on Dec. 2, aiming to raise about HK$1 billion (US$128 million). Bao expects net proceeds of HK$921.5 million after expenses, which will fund its “two-anti” strategy – developing both antibody and antibiotic drugs worldwide, mainly in China, the U.S. and Europe.
As part of global efforts to develop next-generation antibiotics to overcome the growing problem of bacterial resistance to existing drugs, researchers at the Lanzhou Institute of Husbandry and Pharmaceutical Sciences prepared various derivatives of the dimethylcysteamine form of pleuromutilin, a naturally occurring diterpenoid.
When it comes to the U.S. biopharma market, pricing seems to be the driving focus of most congressional conversations – and government contracts. Rep. Cliff Bentz, R-Ore., hit pause on that conversation at a June 11 House subcommittee hearing on the drug supply chain, when he asked if the U.S. is sacrificing security for price.
