China Meheco intends to form a Chinese pharmaceutical joint venture (JV) through its subsidiary with a capital of CNY10m ($1.51m).

To be based in Hubei, a 51% share in the JV will be owned by China Meheco with an investment of CNY5.1m ($0.77m).

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Recordati has purchased Bayer Consumer Care health brands Transipeg, TransipegLib and Colopeg.

“LP Pharmaceutical (Xiamen) has secured $30m in a series B venture financing round.”

Transipeg and TransipegLib are macrogol-based laxatives used to treat constipation symptoms in adults, while Colopeg is a large-volume bowel cleanser used while preparaing for endoscopic exploration.

Novartis has signed an agreement to acquire Ultragenyx Pharmaceutical‘s rare pediatric disease priority review voucher (PRV) for $130m.

The PRV was granted in November, following the approval of MEPSEVII (vestronidase alfa) by the US Food and Drug Administration (FDA).

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The drug is indicated for the treatment of Mucopolysaccharidosis VII in children and adults.

Novartis is a Switzerland-based pharmaceutical company, while Ultragenyx is a biopharmaceutical company based in the US.

LP Pharmaceutical (Xiamen) has secured $30m in a series B venture financing round led by SDIC Fund Management Corporation.

The financing round also included participation from CMB International Capital Corporation and Zhangzhou Pien Tze Huang Pharmaceutical.