Chinese drugmaker goes for $700M with IPO; GSK slashes key Indonesian prices;

 @FiercePharma: Novartis to pay $422.5M in off-label marketing case. Report | Follow @FiercePharma

> Sihuan Pharmaceutical, China's largest cardio-cerebral vascular drugmaker, plans to raise $600 million - $700 million from a Hong Kong initial public offering this month, sources tell ReutersReport

> GlaxoSmithKline (GSK) has begun cutting prices on some of its key products in Indonesia by up to 80 percent as part of a move to increase its market share in the Far East. Article

> Watson Pharmaceuticals and Moksha8, based in Sao Paulo, Brazil, today announced that they have entered into an agreement that will expand Watson's commercial presence in Latin America's two largest markets, Brazil and Mexico. Watson will invest $30 million in Moksha8 as part of Moksha8's approximately $61 million USD financing that includes investments from existing investors TPG Biotechnology and Montreux Equity Partners. Watson release

> Daiichi Sankyo presented new data showing that its hypertension drug Benicar is superior to Merck's now off-patent Cozaar in reducing blood pressure. Story

> The Ontario Securities Commission says Biovail founder Eugene Melnyk did not contravene Canadian securities law in a case related to trucking accident in 2003, but it ruled that he acted contrary to the public interest. Story

> Canada's Angiotech Pharmaceuticals is deferring $9.7 million in interest payments due Friday and is in talks with subordinated noteholders to refinance its debt. News

> Investors have sued AspenBio Pharma for securities fraud, saying the company's officers and directors released misleading information about the effectiveness of its diagnostic test AppyScore. Release

> A group of Texas pharmacies has filed a lawsuit against CVS Caremark, the nation's largest pharmacy healthcare provider, saying it violates racketeering and privacy laws. Report

Biotech News

 @FierceBiotech: Merck, Sanofi plot animal health unit sale. Article | | Follow @FierceBiotech

> Sanofi turns hostile in Genzyme takeover attempt. Story

> Cancer researchers testing radical change in drug trials. Item

> Regulators seek more data on J&J's pain drug tapentadol. News

> Sanofi chief plots course for booming cancer, diabetes markets. Article

Biotech IT News

> PharmaVigilant bolsters site payment system. Report

> FDA updates, finalizes trial safety reporting rule. Article

> Chinese consider trial protocols for traditional meds. Item

> Investor calls for exec resignations at BioClinica. Story

> Lilly's MuSE optimizes trial design. Article

> IT answers sticky trial-startup challenges. News

And Finally... The National Institutes of Health has funded a $95 million effort to study the use of adult drugs in pediatric patients. News