Closing deals, winning drug approvals, receiving patents, announcing financial results, marketing drugs – these are the markers of progress in a biopharma enterprise, and each was in evidence last week in the world of China biopharma.

China Yongxin Pharmaceuticals Inc. (OTCBB: CYXN), for example, announced that it has completed its previously announced reverse merger with Nutradyne Group, Inc. (see story). To celebrate the event and announce itself to the world, the company has changed the name and ticker symbol of the enterprise, broadcasting the changed business of the venture. In the first quarter of 2008, China Yongxin booked $15 million in revenue from the three divisions of its business: a chain of retail drug stores, a wholesale drug distribution business and a ginseng-based TCM drug manufacturing operation.

The two China-based minority participants in the Shanghai Schering-Plough JV will put up for sale their 45% stake in the 14-year old venture (see story). The asking price is $9.6 million. Schering-Plough (NYSE: SGP), the majority owner with a 55% share, will retain its ownership and has the right of first refusal on the rest. The sellers are Shanghai Pharmaceutical Group, with a 30% stake, and Shanghai Pharmaceutical Industry Corp., with the remaining 15%. In 2007, the JV reported a profit of more than $500 thousand, after two years of losses. Depending on your point of view, that fact may make 2008 a good time to sell or a good time to keep a venture. Shanghai Pharmaceutical Group said it was making the move to consolidate its operations in fewer subsidiaries.

Moving on from biopharma deals, Lotus Pharmaceutical (OTCBB: LTUS) said its Q1 revenues rose 41% to $11.7 million, and net income climbed 19% to $1 million (see story). Its third-party manufacturing business experienced a 50% downturn from year-earlier levels, but its other operations – pharmaceutical production and wholesale distribution – did well. To continue the growth, Lotus paid $7 million to buy a new asthma medicine, Laevo- Bambutero, which must still be approved by the SFDA. Lotus expects a 2012 launch for the drug, if all goes well.

China Sky One (OTCBB: CSKI) announced that it will migrate from the OTC Bulletin Board to the American Stock Exchange (see story). When the move takes place, the company will adopt a new ticker symbol: CSY.