Tag: FIN

Health Care

DKSH Supports Growth for Vitabiotics in Hong Kong and Malaysia

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DKSH, the leading Market Expansion Services provider with a focus on Asia, and Vitabiotics, Britain’s largest and fastest growing major vitamin supplement company, has signed an agreement to expand the firm’s product range into Hong Kong and Malaysia.

BANGKOK, April 8, 2015 /PRNewswire/ — DKSH Business Unit Healthcare, a leading partner for healthcare companies seeking to grow their business in Asia, will provide marketing, sales, distribution, logistics and regulatory services for Vitabiotics in Hong Kong and Malaysia. The agreement is an extension of a collaboration that started in Taiwan in 2011.

DKSH will broaden Vitabiotics’ already established market position and product range in Hong Kong on offer by leveraging its reach and deepening distribution to more pharmacy outlets. The Vitabiotics range is also undergoing approval by authorities in Malaysia.

According to a recent study by Roland Berger Strategy Consultants, the Market Expansion Services market for over-the-counter healthcare products in Hong Kong is expected to grow by 5-6% annually between 2014 and 2019. Malaysia is expected to see a slightly higher growth rate of 6-7% growth per year over the same period.

“The diverse Asian market shows excellent long term growth potential for Vitabiotics’ products. Working with our regional partner DKSH allows us to accelerate our growth and enter new strategic markets at the same time. While we can focus on our core strengths, DKSH’s strong commitment to compliance and governance gives us the security that the expansion of our business is in safe hands,” said Robert Taylor, Vice President, Vitabiotics.

“Our regional reach and integrated services give Vitabiotics the convenience of working with one strategic partner across multiple markets. With the insights and commercial capabilities of our local experts and our broad capillary distribution, we are confident to spur further growth for Vitabiotics in Asia,” said Andrew Frye, Head of Business Healthcare, DKSH.

The agreement will strengthen DKSH’s market position in Asia over time.

About Vitabiotics

Vitabiotics has pioneered advances in nutritional healthcare for 45 years, a British company committed to human health and research. As the UK’s No.1 vitamin company, Vitabiotics has created a unique portfolio of products at the forefront of scientific developments in key sectors, with no fewer than 8 brands in the top 18 VMS brands in the UK, including Pregnacare, Osteocare, Wellman and Wellwoman. Vitabiotics is widely acknowledged as leaders in innovation and in 2013 became the first vitamin company to receive the Queen’s Award for Innovation, awarded for its ground breaking clinical research.

As the fastest growing major vitamin company in the UK, Vitabiotics exports to over 100 countries, and has twice received the Queen’s Awards for International Trade. Designed to provide maximum efficacy by supporting the human body in its own natural processes, each product is developed using the latest research available and is produced to the highest pharmaceutical standards.

About DKSH

DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term “Market Expansion Services” suggests, DKSH helps other companies and brands to grow their business in new or existing markets.

Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich. With 750 business locations in 35 countries — 720 of them in Asia — and 27,600 specialized staff, DKSH generated net sales of CHF 9.8 billion in 2014.

In 2015, DKSH celebrates its 150th anniversary. With strong Swiss heritage, the company has a long tradition of doing business in and with Asia, and is deeply rooted in communities and businesses across Asia Pacific.

DKSH Business Unit Healthcare is the leading Market Expansion Services provider for healthcare companies seeking to grow their business in Asia. Custom-made offerings comprise registration, regulatory services, market entry studies, importation, customs clearance, marketing and sales, physical distribution, invoicing and cash collection. Products available through DKSH Healthcare include pharmaceuticals, consumer health and over-the-counter (OTC) products, as well as medical devices. With 150 business locations in 14 countries and around 9,200 specialized staff, Business Unit Healthcare serves over 150,000 customers and generated net sales of around CHF 4.5 billion in 2014.

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The Economist Group Launches Its First Bilingual Chinese-English App The Economist Global Business Review

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A new app that explores key global trends in business, finance and technology – always with a strong point of view

HONG KONG, April 8, 2015 /PRNewswire/ — The Economist Group today officially launched a new digital app The Economist Global Business Review, focused on delivering insightful analysis on global trends in business, finance and technology. As the first in a planned series of local-language offerings, the bilingual Chinese-English app allows The Economist Group to reach a new set of global business leaders in markets like mainland China, Hong Kong, Taiwan, Malaysia and Singapore. The Economist Global Business Review is the first bilingual product featuring Economist content to be offered in the 171-year history of the weekly publication.  Recognising that today’s most influential business leaders span the globe, The Economist Global Business Review removes barriers to bring its spirit of independent reporting and sharp perspective to a wider audience, initially in Chinese, and expanding to other languages in future.

The Economist Global Business Review

The Economist Global Business Review

Curated by the editors at The Economist Group, The Economist Global Business Review features a selection of the best business, finance and technology stories from the weekly newspaper, which have been translated to the highest degree to maintain the stylistic nuances of the original text. Ten (10) articles are published initially at the start of the month; thereafter, a daily article is published each weekday for a total of 30 articles each month.

The bilingual app works in either English-Simplified-Chinese or English-Traditional Chinese and is available for iOS and Android smartphones and tablets. “Chinese was a natural first language for us to choose when launching this new bilingual product, given the increasing global reach of China’s companies and its diaspora,” said Tom Standage, Deputy Editor of The Economist.  “For many years we wrote off the idea of foreign-language editions as too expensive and impractical. However, the rise of digital technology changes the game. We can now deliver content quickly and without the cost constraints of print publishing.”

Tim Pinnegar, Publisher and Managing Director of The Economist Group Asia-Pacific said:  “Offering our unique content in local language opens up an entirely new market to us that was not possible to tap into before.  Our growth strategy over the next five years is exactly focused on attracting new audiences and capitalising on innovations in product and service offerings.”

Keeping in line with the minimalistic design aesthetics of The Economist, the app’s simple and intuitive interface allows for easy toggling between languages.  The app also features a powerful cache (the articles can be archived for up to 12 months) to facilitate offline reading.

The Economist Global Business Review is made available for free in April and May, courtesy of launch sponsor Hyundai.  Wonhong Cho, CMO of Hyundai Motor Company says, “We are glad to sponsor the launch of this new bilingual app from The Economist Group, and hope the app inspires new thinking and new possibilities within the Chinese business communities worldwide.” 

During this time, readers can download the app and experience the simple interface and compelling content completely free of charge. The app is available on the Apple App Store, Google Play, and a number of independent Android stores worldwide.  For more information, visit our website www.TEGBR.com

About The Economist Group

Headquartered in London, The Economist Group is the leading source of analysis on international business and world affairs.  Its publications and services include The Economist, the Economist Intelligence Unit (EIU), Intelligent Life and CQ Roll Call.  The Group delivers its information through a range of formats, from newspapers and magazines to conferences and electronic services.  Across all its products and services, the Group is known for its objectivity of opinion, originality of insight and rigorous analysis of key issues.

Photo – http://photos.prnasia.com/prnh/20150407/0861502669

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Le Shi to Unveil Super Smartphone on April 14, Create the New “Ecological Age”

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HONG KONG, April 7, 2015 /PRNewswire/ — One of the China’s most popular online video sites, Le Holdings (Beijing) Limited (Le Shi), has officially invited the press in early April to an announcement themed “From 1984 to 2015” at which the firm will unveil its Super Smartphone that will bring about unprecedented changes to user experience and the way the industry operates. The announcement will start at 14:00 on April 14 at the MasterCard Center in Beijing, China.

The theme “From 1984 to 2015” represents a new milestone in 2015. “While Apple’s announcement of its Macintosh computer in 1984 was seen as the beginning of a new age, Le Shi’s announcement of its Super Smartphone in 2015 will “overturn” Apple — the one who originally overturned — by bringing smartphones over to the new “Ecological Age,” remarked Le Shi’s Chairman Jia Yueting.

Le Shi’s Chairman on Weibo: An invitation to break boundaries

That particular theme and its implication are also echoed in Jia’s media invitation to the announcement from his Weibo account. He includes a graphic piece in which the “App” in “Apple” is crossed out, with only the “le” in “Le Shi” left untouched.

Jia’s Weibo invite themed “No Ecosystem Nothing Super” reads: “our time is changing; roles have changed but our spirit never changes! From 1984 to 2015, Le Shi invites you to #BreakBoundaries, EcologicalOverturn#; see you at 2pm on 4-14.”

The Chairman has proactively publicized the concepts behind the new smartphone and questioned Apple’s industrial design and its closed system after his surgery to cure Thymoma in November 2014, though he has not made any public appearance since then.

The new, transformative Eco User Interface of Super Smartphone

While high-performance, gorgeous appearance, a focus on the service-first ecological mode, and unrivaled features — such as all-metal bodies, no-frame industrial design, Qualcomm’s flagship 810 chipset, HiFi stereo components, and the highest-resolution camera — will enable Le Shi’s Super Smartphone to surpass offerings by major competitors, the core edge of the Super Smartphone is the EUI (Eco User Interface) system.

“An interactive system between users and ecosystem, EUI is cross-ecology and across terminals’ central nervous systems. EUI re-defines smartphone’s UI system, allowing smartphones to move from the intelligence age to the ecology age,” said Le Shi.

EUI will also act as the core of a complete ecosystem that transforms the existing hardware-software integrated smartphone.

“Numerous new players have entered the smartphone market, but nobody seems to put users’ core benefits first,” Jia pointed out. “At Le Shi, we firmly believe that only the ecosystem of platform+content+terminal+applications will bring changes to user experience and the way the industry operates.”

About Letv

Founded in November 2004 by Jia Yueting, a celebrated pioneer in China’s Internet landscape, Letv Group is committed to creating the “Letv Ecosystem,” a next-generation Internet engine that is vertically-integrated to offer an online platform completed with content, terminals and applications. The Group is engaged in a rich array of businesses, spanning from Internet TV, video production and distribution, smart gadgets and large-screen applications to e-commerce, eco-agriculture and Internet-linked super-electric cars, which were launched in late 2014. The Group comprises a number of subsidiaries, including Letv.com, Leshi Zhi Xin, Le Vision Pictures, Wangjiu.com, Letv Holding, Letv Investment Management and Le Mobile. In 2014, the aggregate sales of the Group amounted to approximately RMB 10 billion.

Health Care

Phylogica Enters Transaction with UK Biotech to Identify and Develop Small Molecule Cancer Drugs

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Non-exclusive license granted to PhoreMost Limited for phenotypic screening of Phylomer libraries to discover and develop small molecule drugs

Phylogica obtains 7.5% stake in PhoreMost

Phylogica obtains rights to develop therapeutic Phylomer peptides discovered from PhoreMost screens

Agreement has potential to feed Phylogica’s peptide-based oncology pipeline and unlock significant value in Phylomer platform

PERTH, Australia, April 7, 2015 /PRNewswire/ — Phylogica Limited (ASX: PYC) has entered into a licensing agreement with PhoreMost Limited, a private biotechnology company based in Cambridge UK.

Under the agreement, Phylogica grants to PhoreMost a world-wide non-exclusive license to use certain Phylomer libraries solely for phenotypic screening to identify novel targets involved in diseases such as cancer, and then to identify and develop small molecule drugs against these targets.

The license includes certain preference conditions that cap the number of similar phenotypic deals Phylogica may enter into during an 18 month option period. Importantly, Phylogica will retain all commercial rights to exploit any Phylomer peptides identified in the screens for therapeutic purposes.

As consideration for the license Phylogica will obtain a 7.5% equity stake in PhoreMost together with non-exclusive rights to commercialise any functional Phylomer peptides and associated disease targets that are identified by PhoreMost for peptide therapeutics, along with an option to negotiate exclusive rights for such purpose.

“We are delighted the PhoreMost agreement formalises our long standing collaboration with Professor Venkitaraman’s team at the University of Cambridge who are co-founders of PhoreMost and who are world leaders in cutting-edge phenotypic screening approaches to identify novel disease targets involved in cancer,” said Phylogica CEO, Dr. Richard Hopkins.

“The team is complemented by PhoreMost CEO Dr. Chris Torrance, who co-founded and commercialised Horizon Discovery, a pioneering phenotypic screening company, which recently floated on the London Stock Exchange and is currently valued at more than GBP150 million.”

“This agreement provides Phylogica’s shareholders with an equity stake in an innovative company with its own proprietary small molecule-based oncology programs. It also has the potential to feed Phylogica’s oncology pipeline with novel cancer targets and peptides, accelerating our path to product development and adding significant value to the company.”

Dr. Torrance commented, “We have been very aware of Phylogica’s unique technology asset and its vast potential to generate novel drug candidates for diseases previously considered undruggable. This agreement is an important part of our quest to find and develop superior small molecule therapies through specialised phenotypic screening approaches.”

Using novel ‘phenotypic’ screening technologies developed in collaboration with Professor Venkitaraman, Phylogica’s Phylomer libraries will be used to probe the landscape of intracellular disease targets to identify the best new approaches for next-generation cancer therapy. A pipeline of these validated drug targets, the majority of which will have been drugged for the very first time, will be developed in partnership with Phylogica and other pharmaceutical companies to bring a multiplicity of new treatment options into the clinic.

Enquiries:
Rudi Michelson
Monsoon Communications
rudim@monsoon.com.au
+61 3 9620 3333

About PhoreMost

PhoreMost Ltd is a new bio-pharmaceutical company based in Cambridge UK, established to significantly increase the diversity and affordability of novel therapeutics for cancer and other difficult diseases. PhoreMost is managed by Dr. Chris Torrance, founder of Horizon Discovery (LSE: HZD), a pioneering translational genomics company using advanced human genome editing techniques to create accurate and genetically-defined human disease models for accelerating targeted drug discovery. Horizon completed its IPO in March this year raising GBP37.8 million.

About Phylogica

Phylogica Limited (ASX: PYC) is a biotechnology company based in Perth, Australia with a world-class drug discovery platform harnessing the rich biodiversity of nature to discover novel peptide therapeutics from the most structurally diverse libraries available. The Company listed on the ASX in 2005 as a spin out from the Telethon Kids Institute (Perth, Australia) and the Fox Chase Cancer Centre (Philadelphia, USA). The Company’s drug discovery platform is based on its proprietary Phylomer® libraries containing over 400 billion unique natural peptides, which have been optimised by evolutionary selection to adopt stable drug-like structures. Phylogica offers fully integrated drug discovery services to the pharmaceutical industry utilising its Phylomer® libraries and proprietary screening technologies in exchange for license fees, milestones and royalties. Partners from discovery alliances within the last 5 years include Roche, MedImmune, Pfizer, Janssen, Cubist Pharmaceuticals and Genentech.

About Phylomer® Peptides

Phylomer peptides are derived from biodiverse natural sequences, which have been selected by evolution to form stable structures that can bind tightly, and specifically to disease associated target proteins, both inside and outside cells. Suitable targets for blockade by Phylomers include protein interactions that promote multiple diseases, such as infectious diseases, cancer, autoimmunity and heart disease. Phylomer peptides can have drug-like properties including specificity, potency and thermal stability, and are capable of being produced by synthetic or recombinant manufacturing processes. Phylomer peptides are also readily formulated for administration by a number of means including parenteral or intranasal delivery approaches. Current Phylomer libraries comprise more than 400 billion distinct sequences derived from thousands of protein structure families encoded by biodiverse genomes, representing the most structurally diverse peptide libraries available. Phylomer peptides have also been demonstrated to have world-class cell penetrating ability, enabling them to deliver protein cargoes with unprecedented efficiency.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/phylogica-enters-transaction-with-uk-biotech-to-identify-and-develop-small-molecule-cancer-drugs-300061855.html

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Wailian Overseas Consulting Group, Ltd. – Major Tour Sponsor for Carnegie Hall’s 2015 China Tour by the National Youth Orchestra of the United States of America

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NEW YORK, April 6, 2015 /PRNewswire/ — Wailian Overseas Consulting Group, Ltd. announced today that it has signed on as a Major Tour Sponsor for Carnegie Hall’s National Youth Orchestra of the United States of America (“NYO-USA“) summer 2015 tour to China.

The NYO-USA is comprised of more than a hundred of the finest young musicians from across the United States. This summer, the orchestra will travel to Asia for the first time ever with a seven-city tour through China, with performances in Beijing, Shanghai, Suzhou, Xi’an, Shenzhen, Guangzhou, and Hong Kong from July 15-26. The tour will formally launch with a performance at New York City’s Carnegie Hall on July 11. Led this summer by conductor Charles Dutoit, NYO-USA will be joined on tour by internationally-renowned pianist YUNDI as guest soloist. The orchestra’s program will include a new work by composer Tan Dun.

In July 2014, NYO-USA’s visit to China was designated as one of four Cultural Pillars by the U.S. Department of State and Chinese government for the Fifth U.S.-China Consultation on People-to-People Exchange (CPE). The CPE aims to enhance and strengthen ties between the citizens of the United States and the People’s Republic of China in the five pillar areas of culture, education, science and technology, sports, and women’s issues.

Sir Clive Gillinson, Executive and Artistic Director of Carnegie Hall said, “Carnegie Hall is very grateful for this important show of support for NYO-USA by Wailian Overseas Consulting Group. The orchestra’s first tour to China will be an amazing opportunity for musical and cultural discovery. Many thanks to Wailian for helping to make this incredible programpossible, connecting talented young musicians from across the US with music lovers throughout China.”

Ms. Linda He, CEO and President of Wailian Overseas Consulting Group, Ltd. remarked, “We are very honored to become a major tour sponsor for Carnegie Hall’s 2015 NYO-USA summer tour to China. Wailian specializes not only in finding outstanding investment opportunities for Chinese citizens seeking to emigrate, but also in promoting cultural exchange and harmony between our two countries. We are proud to support some of the great musicians of tomorrow.”

About NYO-USA: Each summer, Carnegie Hall’s Weill Music Institute brings together the finest young musicians from across the country (ages-16-19) to form the National Youth Orchestra of the United States of America (NYO-USA). Following a comprehensive audition process and a two-week training residency with faculty made up of principal players from top professional orchestras, these remarkable teenagers embark on a tour to some of the great music capitals of the world, serving as America’s dynamic music ambassadors.

Launched in summer 2013 to great critical acclaim, the first-ever NYO-USA presented concerts with famed conductor Valery Gergiev and renowned violinist Joshua Bell to enthusiastic audiences in Washington DC; St. Petersburg and Moscow, Russia; and at the BBC Proms in London, England. The 2014 orchestra, led by dynamic American conductor David Robertson with virtuoso violinist Gil Shaham as soloist, made its debut at Carnegie Hall in New York City, followed by a coast-to-coast US tour. For more information, visit carnegiehall.org/nyousa.

About Wailian Overseas Consulting Group, Ltd.: As a proven leader in the investment immigration industry, Wailian has established a solid reputation that continues to flourish. Now with over 300 employees and 20 offices internationally, Wailian is recognized by Chinese investors, U.S regional centers and developers as a global leader in attracting premium investment opportunities for its clients. Wailian’s experienced professionals are dedicated to providing the best service to its clients, thus earning us the “Most Trusted Brand” award. Wailian was the first company in the industry to establish project centers overseas dedicated to performing ongoing due diligence reviews for its projects, providing the greatest level of security to protect the interests of investors.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wailian-overseas-consulting-group-ltd—major-tour-sponsor-for-carnegie-halls-2015-china-tour-by-the-national-youth-orchestra-of-the-united-states-of-america-300060745.html

Health Care

The Sales from China Jo-Jo Drugstores’ Official Online Pharmacy Site Jumped More Than 200%

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HANGZHOU, China, April 6, 2015 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo“), a leading China-based retail and wholesale distributor that offers pharmaceutical and health care products through its online and retail pharmacies, today announced that, based on its preliminary internal estimate, the online sales from its official online pharmacy site, www.dada360.com, increased more than 200% during the latest quarter ending March 31, 2015 as compared to the same period last year. The total quarterly revenue generated from the Company’s own official online pharmacy site has exceeded RMB10,000,000 (approximately USD1.6 million).

The main growth engine was the online purchase from customers of certain commercial health insurance providers, such as Shanghai Jianbao Technology Co., Ltd. (“Shanghai Jianbao”), who issued and distributed Yikatong (the “E-Pharmacy-Card”), a popular pharmacy and health insurance benefit card with over 180,000 current users. As previously announced, the Company established a strategic partnership with Shanghai Jianbao early this year, and the two parties have since carried out close cooperation, including the integration and upgrades of their sales systems, and the development of a mobile App (such as WeChat). The goal of these devices is to direct the majority of Shanghai Jianbao’s online E-Pharmacy-Card transactions to the Company’s official website for pharmacy sales. The management expects that its online sales to reach a monthly revenue of RMB 10 million (approximately USD1.6 million) by end of 2015.

Furthermore, China Jo-Jo has recently enforced major changes to its e-commerce site, such as modifying and optimizing product offerings based on its historical sales data, offering competitive prices and providing more technical features and sales supports to the fast growing mobile users. The Company will also launch a new direct sales campaign to all E-Pharmacy-Card holders, by utilizing emails, WeChat, and reward points program.

Mr. Lei Liu, Chairman of the Company, stated, “While we are thrilled to see the recent surge in the sales of our own online pharmacy, mainly driven by E-Pharmacy-Card business, we believe this is just the beginning of a long term trend. Due to the aging Chinese population and the rapidly growing healthcare cost, Chinese government strongly encourages private enterprises and individuals to participate in various commercial insurances and pharmacy benefit plans, in addition to the government sponsored Social Health Insurance (SHI) program. Our E-Pharmacy-Card business is one of the examples of our strategic decision to collaborate with commercial health insurance providers to leverage our online and offline pharmacy network. We hope to report more exciting news and financial performance to our shareholders in the coming months. “

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of December 31, 2014, the Company had 60 retail pharmacies in Hangzhou. The Company’s wholesale subsidiary not only supplies its retail stores, but also distributes drug and other healthcare products to other drugstores and drug vendors. The Company routinely posts important information on its corporate websites at www.jiuzhou-drugstore.com (Chinese) and www.chinajojodrugstores.com (English).

Forward Looking Statement

Statements in this press release regarding the Company that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including, but not limited to, financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “estimate,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” “anticipate,” the negatives thereof, or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. It is routine for the Company’s internal projections and expectations to change as the quarter and year progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which the Company bases its expectations may change. Although these expectations may change, the Company is under no obligation to inform you if they do. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of numerous factors, including the risks associated with the effect of changing economic conditions in the People’s Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products. Readers are referred to the reports and documents filed from time to time by the Company with the Securities and Exchange Commission for a discussion of these and other important risk factors that could cause actual results to differ from those discussed in forward-looking statements.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-sales-from-china-jo-jo-drugstores-official-online-pharmacy-site-jumped-more-than-200-300061196.html

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Shanda Games Limited Enters into Definitive Merger Agreement for Going Private Transaction

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HONG KONG, April 3, 2015 /PRNewswire/ — Shanda Games Limited (NASDAQ: GAME) (“Shanda Games” or the “Company”), a leading online game developer, operator and publisher in China, announced today that it had entered into an Agreement and Plan of Merger (the “Agreement”) with Capitalhold Limited (“Parent”) and Capitalcorp Limited, a wholly owned subsidiary of Parent (“Merger Sub”).

Pursuant to the Agreement, Parent will acquire the Company for cash consideration equal to US$3.55 per ordinary share of the Company (each, an “Ordinary Share”) and US$7.10 per American Depositary Share of the Company, each representing two Class A Ordinary Shares (each, an “ADS”), in a transaction valuing the Company at approximately US$1.9 billion. This price represents a premium of 46.5% and 53.8%, respectively, over the Company’s 30- and 60-trading day volume-weighted average price as quoted by NASDAQ Global Select Market (“NASDAQ”) on January 24, 2014, the last trading date immediately prior to the Company’s announcement on January 27, 2014 that it had received a “going private” proposal.

The consideration to be paid to holders of Ordinary Shares and ADSs pursuant to the Agreement also represents an increase of approximately 2.9% from the original US$3.45 per Ordinary Share and US$6.90 per ADS offer price included in the January 27, 2014 “going private” proposal.

Immediately following consummation of the transactions contemplated by the Agreement, Parent will be beneficially owned by a consortium (the “Buyer Group”) comprising (i) Ningxia Yilida Capital Investment Limited Partnership, a limited partnership formed under the laws of the People’s Republic of China and an affiliate of the Company’s acting CEO, Mr. Yingfeng Zhang, (ii) Ningxia Zhongyincashmere International Group Co., Ltd. (“Ningxia”), a company formed under the laws of the People’s Republic of China, (iii) Orient Hongtai (Hong Kong) Limited, a company incorporated and existing under the laws of Hong Kong (“Orient Hongtai”), (iv) Orient Hongzhi (Hong Kong) Limited (“Orient Hongzhi”), a company incorporated and existing under the laws of Hong Kong and an affiliate of Orient Hongtai, (v) Hao Ding International Limited (“Hao Ding”), a company established under the laws of the British Virgin Islands, (vi) Ningxia Zhengjun Equity Investment Partnership Enterprise (Limited Partnership) (“Zhengjun Investment”), a limited partnership organized and existing under the laws of the People’s Republic of China and an affiliate of Mr. Yingfeng Zhang, (vii) Ningxia Silkroad Equity Investment Partnership Enterprise (Limited Partnership) (“Ningxia Silkroad”), a limited partnership organized and existing under the laws of the People’s Republic of China and an affiliate of Ningxia, and (viii) Ningxia Zhongrong Legend Equity Investment Partnership Enterprise (Limited Partnership) (“Zhongrong Legend”), a limited partnership organized and existing under the laws of the People’s Republic of China and an affiliate of Ningxia. Merger Sub is a direct wholly owned subsidiary of Parent. As of the date of the Agreement, the Buyer Group collectively beneficially owns approximately 75.7% of the Company’s issued and outstanding Ordinary Shares, representing approximately 90.7% of the total number of votes represented by the Company’s issued and outstanding Ordinary Shares.

Subject to the terms and conditions set forth in the Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and becoming a wholly owned subsidiary of Parent (the “Merger”), and each of the Ordinary Shares issued and outstanding immediately prior to the effective time of the Merger (including Ordinary Shares represented by ADSs) will be cancelled in consideration for the right to receive US$3.55 per Ordinary Share or US$7.10 per ADS, in each case, in cash, without interest and net of any applicable withholding taxes, except for (i) 48,759,187 Class B Ordinary Shares held by Yili Shengda Investment Holdings (Hong Kong) Company Limited, an affiliate of Mr. Yingfeng Zhang, 48,759,187 Class B Ordinary Shares held by Zhongrong Shengda Investment Holdings (Hong Kong) Company Limited, an affiliate of Ningxia, 80,577,828 Class A Ordinary Shares held by Zhongrong Investment Holdings (Hong Kong) Co., Ltd., an affiliate of Ningxia, 61,776,334 Class A Ordinary Shares held by Orient Hongtai, 61,776,335 Class A Ordinary Shares held by Orient Hongzhi, 107,438,129 Class A Ordinary Shares held by Hao Ding and any Ordinary Shares held by Parent, the Company or any of their subsidiaries immediately prior to the effective time of the Merger, each of which will be cancelled without payment of any consideration or distribution therefor, and (ii) Ordinary Shares owned by holders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which Ordinary Shares will be cancelled at the effective time of the Merger for the right to receive the fair value of such Ordinary Shares determined in accordance with the provisions of Section 238 of the Companies Law of the Cayman Islands.

The Buyer Group intends to fund the transaction through cash contributions from Zhengjun Investment, Ningxia Silkroad, Zhongrong Legend (collectively, the “Sponsors”) or their affiliates pursuant to equity commitment letters entered into between Parent and each Sponsor. The Sponsors have also entered into limited guarantees in favor of the Company pursuant to which they have agreed to guarantee certain obligations of Parent and Merger Sub under the Agreement.

The Company’s Board of Directors, acting upon the unanimous recommendation of the special committee of independent directors formed by the Board of Directors (the “Special Committee”), unanimously approved the Agreement, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands in connection with the Merger and the transactions contemplated thereby (the “Transactions”), including the Merger, and resolved to recommend that the Company’s shareholders vote to approve the Agreement and the Transactions, including the Merger. The Special Committee, which is composed solely of independent directors who are unaffiliated with Parent, Merger Sub, any member of the Buyer Group or management of the Company, exclusively negotiated the terms of the Agreement with the Buyer Group with the assistance of its independent financial and legal advisors.

The Merger, which is currently expected to close in the second half of 2015, is subject to customary closing conditions, including the approval by an affirmative vote of shareholders holding two-thirds or more of the votes represented by the Ordinary Shares (including Ordinary Shares represented by ADSs) present and voting in person or by proxy as a single class at the extraordinary general meeting, which will be convened to consider the approval of the Agreement and the Transactions, including the Merger. The Buyer Group beneficially owns sufficient Ordinary Shares to approve the Agreement and the Transactions, including the Merger, and has agreed to vote in favor of such approval. If completed, the Transactions will result in the Company becoming a privately-held company and its ADSs will no longer be listed on NASDAQ.

Bank of America Merrill Lynch is serving as financial advisor to the Special Committee, Sullivan & Cromwell LLP is serving as U.S. legal advisor to the Special Committee, Haiwen & Partners is serving as PRC legal advisor to the Special Committee and Walkers Global is serving as Cayman Islands legal advisor to the Special Committee. Akin Gump Strauss Hauer & Feld is serving as legal advisor to Bank of America Merrill Lynch.

Davis Polk & Wardwell LLP is serving as U.S. legal advisor to the Company and Global Law Office is serving as PRC legal advisor to the Company.

Southwest Securities Co., Ltd. is serving as financial advisor to the Buyer Group and Wilson Sonsini Goodrich & Rosati, P.C. is serving as U.S. legal advisor to the Buyer Group.

Additional Information about the Transactions

The Company will furnish to the Securities and Exchange Commission (the “SEC”) a report on Form 6-K regarding the Transactions, which will include as an exhibit thereto the Agreement. All parties desiring details regarding the Transactions are urged to review these documents, which are available at the SEC’s website (http://www.sec.gov).

In connection with the Transactions, the Company will prepare and distribute a proxy statement to its shareholders. In addition, certain participants in the Transactions will prepare and distribute to the Company’s shareholders a Schedule 13E-3 transaction statement. These documents will be filed with or furnished to the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE TRANSACTIONS AND RELATED MATTERS. In addition to receiving the proxy statement and Schedule13E-3 transaction statement, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the Transactions and related matters, without charge, from the SEC’s website (http://www.sec.gov) or at the SEC’s public reference room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. In addition, these documents can be obtained, without charge, by contacting the Company at the following address and/or phone number:

Shanda Games Limited:
No. 1 Office Building
No. 690 Bibo Road
Pudong New Area
Shanghai 201203
The People’s Republic of China
Phone: +86-21-5050-4740

The Company and certain of its directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be “participants” in the solicitation of proxies from our shareholders with respect to the Transactions. Information regarding the persons who may be considered “participants” in the solicitation of proxies will be set forth in the proxy statement and Schedule 13E-3 transaction statement relating to the Transactions when they are filed with the SEC. Information regarding certain of these persons and their beneficial ownership of the Company’s Ordinary Shares as of March 31, 2014 is also set forth in the Company’s Form 20-F, which was filed with the SEC on April 29, 2014. Additional information regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement and the other relevant documents filed with the SEC when they become available.

This announcement is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell any securities and it is not a substitute for any proxy statement or other filings that may be made with the SEC should the Transactions proceed.

Cautionary Statement concerning Forward Looking Statements

This news release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to how the Company’s shareholders will vote at the meeting of shareholders, the possibility that competing offers will be made, the possibility that various closing conditions to the Merger may not be satisfied or waived and other risks and uncertainties discussed in the Company’s filings with the SEC, as well as the Schedule 13E-3 transaction statement and the proxy statement to be filed by the Company in connection with the Merger. Shanda Games does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Shanda Games

Shanda Games Limited (NASDAQ: GAME) is a leading online game developer, operator and publisher in China. Shanda Games offers a diversified game portfolio, which includes some of the most popular massively multiplayer online (MMO) games and mobile games in China and in overseas markets, targeting a large and diverse community of users. Shanda Games manages and operates online games that are developed in-house, co-developed with world-leading game developers, acquired through investments or licensed from third parties. For more information about Shanda Games, please visit http://www.ShandaGames.com.

Contact

Shanda Games Limited
Ellen Chiu, Investor Relations Director
Maggie Zhou, Investor Relations Associate Director
Phone: +86-21-5050-4740 (Shanghai)
Email: IR@ShandaGames.com

Christensen:
Christian Arnell
Phone: +86-10-5900-1548 (China)
Email: carnell@ChristensenIR.com

Linda Bergkamp
Phone: +1-480-614-3004 (U.S.A.)
Email: lbergkamp@ChristensenIR.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shanda-games-limited-enters-into-definitive-merger-agreement-for-going-private-transaction-300060834.html

ENT Fashion

foodpanda Teams Up With Food Aid Foundation – Give A Little, Help A Lot

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Food Aid Foundation and foodpanda Malaysia team up to raise funds for food for Persatuan Rumah K.I.D.S. Orphanage in Malaysia.

KUALA LUMPUR, Malaysia, April 3, 2015 /PRNewswire/ — foodpanda hopes to help people learn about the importance of eating healthy and provide some basic knowledge about nutrition. With the “give a little, help a lot” initiative we would like to show that it takes very little effort to make significant changes. Together with Food Aid Foundation, our project is in the best hands: Food Aid Foundation will take care of the distribution and the transportation of the food.

“Our goal is to collect EUR1,000 (EUR1 = MYR3.94), to help cover two months of groceries for the orphanage. The collected money will go to Food Aid Foundation’s official fund raising account. They will buy the most necessary food stuffs for Rumah K.I.D.S Orphanage from the collected amount,” says Sidney, Country Manager of foodpanda Malaysia.

About Rumah K.I.D.S Orphanage

Persatuan Rumah Kanak-Kanak Ini Di Sayangi (Rumah K.I.D.S) began its operations in 1991. They are located at 7, Jalan Durian, Kawasan 6, 41100 Klang, Selangor. It is a registered non-profit charitable home for orphans and abandoned children. It is registered with the Registrar of Society and subsequently with Jabatan Kebajukan Masyarakat Malaysia and other related governmental departments.

The children are separated in two homes, based on gender. They between 4 to 18 years old. The orphanage needs support in order to provide food security for the children and assistance to cover the utility bills.

About foodpanda

foodpanda group is the leading global food delivery marketplace, active in 39 countries on five continents. The company enables restaurants to become visible in the online and mobile world and provides them with the latest online technology. For consumers, foodpanda/hellofood offer the convenience to order food online and with the widest gastronomic range, from which they can choose their favourite meal on the web or via the app.

Look us up at:
Website: www.foodpanda.my
Facebook: facebook.com/FoodpandaMalaysia

For more information on this press release, or to arrange interviews with company management, please contact:

Sidney Ng
Country Manager, Malaysia
Unit D-3A-08, Level 3A, Block D,
Southgate Commercial Centre,
No.2 Jalan Dua off Jalan Chan Sow Lin, 55200 Kuala Lumpur
Tel: +6016-3062330
Email: s.ng@foodpanda.my

Trisha Ang
Marketing Manager
Unit D-3A-08, Level 3A, Block D,
Southgate Commercial Centre,
No.2 Jalan Dua off Jalan Chan Sow Lin, 55200 Kuala Lumpur
Tel: +6016-7252996
Email: t.ang@foodapanda.my

Health Care

WuXi PharmaTech Lists Shares of Small-Molecule Manufacturing Subsidiary STA on New Third Board in China

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SHANGHAI, April 2, 2015 /PRNewswire/ — WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology and medical device industries, announced today that its wholly owned subsidiary SynTheAll Pharmaceutical Co. Ltd. (“STA”) has received approval from the National Equities Exchange and Quotations (“NEEQ”) in China to list its shares on the New Third Board, the over-the-counter (OTC) stock exchange in China. STA shares will be listed beginning April 3, 2015. WuXi does not currently plan to issue new STA stock to the public immediately upon listing. In March 2015, following receipt of required government approvals, WuXi agreed to sell a 5.55% stake in STA stock to members of STA management and WuXi management at a price based on a third-party appraisal of the STA equity value. This sale will be settled in early April for approximately $28 million in total cash consideration, with WuXi recognizing a related gain on the sale in the second quarter of 2015. Two thirds of the shares purchased by the management employees are subject to a lock-up, with 1/3 available for sale on the first anniversary of the listing date and another 1/3 available for sale on the second anniversary of the listing date.

STA provides process chemistry services and manufactures small-molecule advanced intermediates and APIs for customer use in preclinical and clinical trials and for marketed small-molecule drugs. Its operations are located in the Waigaoqiao Free Trade Zone and Jinshan, both in Shanghai, and in Changzhou. STA does not include WuXi’s biologics manufacturing business. STA’s business is significantly more capital intensive than WuXi’s laboratory services business and is in the process of building new facilities in Changzhou to increase its production capacity. STA filed this application to list on the New Third Board late last year to allow the flexibility to raise capital eventually from the Chinese capital markets to fund its future growth and to pursue potential mergers and acquisitions.

The New Third Board was established by the State Council in January 2013 as a national OTC stock exchange to supplement trading activities on the Shanghai and Shenzhen stock exchanges, including the related Growth Equity Market (GEM) exchanges. China’s GEM exchanges provide for trading of stock of growth companies that do not otherwise satisfy the requirements for listing on the main Shanghai and Shenzhen stock exchanges. The New Third Board provides a pricing mechanism for valuing a company’s stock. Policies are currently expected to be introduced in the second half of 2015 to enable NEEQ-registered companies to transfer to the GEM exchanges.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead are predictions about future events. Examples of forward-looking statements in this press release include statements about the public issuance of STA shares. Future events are inherently uncertain, and our forward-looking statements may turn out to be incorrect. WuXi may decide not to issue STA shares to the public in the near term or at all. Among other factors impacting WuXi’s ability to offer new shares in STA, these actions are subject to market conditions and various PRC exchange and regulatory approvals. WuXi and STA may not realize the anticipated benefits of the listing, with a number of related risks including: STA may be unable to raise cash in amounts sufficient to meet its cash needs, WuXi’s ownership interest in STA will be diluted to the extent STA shares are sold to third parties, WuXi management could become distracted, and the trading price of WuXi’s ADSs could become more volatile as a result of the trading price of STA’s shares and business developments. Additional information about these and other relevant risks can be found in our Annual Report on Form 20-F for the year ended December 31, 2014 (expected to be filed in April 2015). The forward-looking statements in this press release speak only as of the date on which they are made, and we assume no obligation to update any forward-looking statements except as required by law.

About WuXi PharmaTech

WuXi PharmaTech (NYSE: WX) is a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology and medical device industries, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi is also building a platform to provide clinical diagnostic services directly to physicians and their patients globally. WuXi PharmaTech’s services are designed to help its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec.

For more information, please contact:

Ronald Aldridge
Director of Investor Relations
+1 (201) 585-2048
ron_aldridge@wuxiapptec.com

Aaron Shi
Director of Corporate Communications
+86-21-5046-4362
aaron_shi@wuxiapptec.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wuxi-pharmatech-lists-shares-of-small-molecule-manufacturing-subsidiary-sta-on-new-third-board-in-china-300060162.html

ENT Fashion

Renren Announces Dutch Auction Tender Offer for Its American Depositary Shares

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BEIJING, April 2, 2015 /PRNewswire/ — Renren Inc. (NYSE: RENN) (“Renren” or the “Company”), a leading real-name social networking internet platform in China, announced that it is commencing a Dutch auction tender offer today to purchase for cash up to $50 million in value of its American Depositary Shares (the “ADSs”), each representing three Class A ordinary shares of the Company, par value $0.001 per share, at a purchase price not greater than $2.75 per ADS nor less than $2.40 per ADS (in each case less a cancellation fee of $0.05 per ADS to be paid to the Company’s ADS depositary). Under the terms of the tender offer, the Company will invite holders of ADSs to tender their ADSs at prices specified by such holders within such range of prices in the manner be described further in the offer materials. The Company will select the lowest single per ADS purchase price that will allow it to purchase $50 million in value of ADSs at completion of the tender offer. The tender offer will be subject to the terms and conditions described in the offer to purchase and the related materials that will be distributed to holders of the Securities and filed with the Securities and Exchange Commission (the “SEC”) today. The tender offer constitutes a part of the $100 million share repurchase program that the Company announced on June 28, 2014, and not an addition to it.

Joseph Chen, Chairman and Chief Executive Officer of the Company, stated that “After we announced the adoption of a $100 million share repurchase plan on June 28, 2014, we repurchased approximately $48.6 million of our ADSs on the open market through March 13, 2015. We weighed the benefits of continuing to use the remaining amount authorized under the share repurchase program to repurchase ADSs on the open market from time to time against the benefits of using approximately the same amount to repurchase ADSs in a single transaction, and we determined that a tender offer was the most effective way to realize the aims of the share repurchase program.”

Neither Renren, its board of directors, the dealer manager nor the information agent nor any of their affiliates is making any recommendation to holders of the Securities as to whether to tender or refrain from tendering their Securities or as to the purchase price on any tender. Renren has been advised that none of its directors or executive officers intends to tender any Securities pursuant to the offer. The information agent for the tender offer will be Georgeson Inc. and the depositary for the tender offer will be Citibank, N.A. Morgan Stanley & Co. LLC will act as the dealer manager for this tender offer.

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell Renren’s Securities. The solicitation of offers to buy Renren’s Securities will only be made pursuant to the offer to purchase, to be issued in connection with the commencement of the tender offer (as may be amended or supplemented), the related letter of transmittal, and other related documents that Renren intends to send to holders of its Securities. The tender offer materials will contain important information that should be read carefully before any decision is made with respect to the tender offer. Those materials will be distributed by Renren to the holders of its Securities at no expense to them. In addition, all of the materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC’s website at www.sec.gov and by contacting Georgeson Inc., the information agent for the tender offer, by telephone at (866) 821-0284.

About Renren Inc.

Renren Inc. (NYSE: RENN) operates a leading real name social networking internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, and enjoy a wide range of other features and services. Renren’s businesses primarily include the main social networking website renren.com and the game operating platform Renren Games. Renren.com had approximately 223 million activated users as of December 31, 2014. Renren’s American depositary shares, each of which represents three Class A ordinary shares, trade on NYSE under the symbol “RENN”.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Renren’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Renren does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Cynthia Liu
Investor Relations Department
Renren Inc.
Tel: +86 (10) 8448-1818 x1300
Email: ir@renren-inc.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/renren-announces-dutch-auction-tender-offer-for-its-american-depositary-shares-300060107.html