On July 11, 2022 Sinopharm, China’s large state-owned biopharmaceutical company, reported that make a $1 billion bid to acquire BBI Life Sciences, a Shanghai company that offers products for research science (Press release, SINOPHARM, JUL 11, 2022, View Source [SID1234616598]). The acquisition process is in an early stage and includes several other interested bidders. BBI offers raw materials and consumables for life science research, as well as for the food and agriculture industries. BBI IPO’d in 2014 on the Hong Kong Exchange, but in 2020, its major owners, the Wang family, took the company private again. Sinopharm uses M&A and venture investments to expand its portfolio.

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