SciClone Acquires China-based Specialty Pharma

Foster City, CA-based SciClone Pharmaceuticals has inked a deal to buy Shanghai-based NovaMed Pharmaceuticals for $24.7 million in cash and $37.1 million in stock. SciClone has also pledged up to $43 million in revenue milestones as it absorbs a developer with a range of marketed drugs as well as a development arm focused on registration work.

NovaMed has a portfolio of 18 drug products covering four therapeutic areas: Oncology, cardiovascular disease, central nervous system disorders and urology/infection. And SciClone says that it will step up to the plate in China with additional programs up for regulat