Some big names have cropped up in a new round of emerging-markets investments. First, there's Sihuan Pharmaceutical, the Chinese drugmaker that's going public in Hong Kong. Not only was the IPO fully subscribed on the first day, Reuters reports, but celebrity investor George Soros has committed $40 million to the venture. Sihuan is aiming to raise up to $741 million at a price of up to HK$4.60 per share.
Second, there's the ongoing tire-kicking at India's Paras Pharma. Local news outlets are reporting that four Big Pharmas have lodged bids for the company: GlaxoSmithKline, Sanofi-Aventis, Novartis and Johnson & Johnson. The bids are ranging between $600 million and $700 million, which is lower than the $1 billion market observers had expected. No word on whether the company intends to sell at the lower price.
These are just two of the latest examples of Western investors and companies attempting to take advantage of fast expansion in emerging markets. Maybe George Soros read last week's IMS Health prediction that China's drug market will rack up 20 percent-plus in annual growth.
- see the Reuters story
- get more from Bloomberg
- check out the Economic Times article