Shanghai Pharma may bid $4 billion to acquire Stada Arzneimittel, a German generic drugmaker.

Shanghai Pharma has until June 8 to make an offer at a higher price.

Shanghai Pharma may team up with European PE fund, Advent, or some other PE firm.

Earlier, Fosun Pharma considered making a bid for Stada, though it is no longer in contention.

Aslan Pharma of Singapore completed the competitive auction part of its Taiwan IPO, selling 10.4 million shares at a weighted average bid of NT$68.

Germany’s Boehringer Ingelheim officially opened its $77 million China biologic drug contract manufacturing facility for biologic drugs in Shanghai.

The project, which is a joint venture with Shanghai Zhangjiang Biotech and Pharma Base Development, will join BI’s three existing biologic CMO facilities, located in Europe and the US. BI also announced a long-term, early science collaboration with Peking University.