HONG KONG – Starting this month, Chinese biotech companies will enjoy a 50 percent reduction in value-added tax (VAT) in China, all part of a government plan to standardize taxes across the country.
HONG KONG – Underscoring the speed in which China is working to raise its drug regulations to international standard, the World Health Organization (WHO) gave the country's national vaccine regulatory system a stamp of approval in a follow-up assessment since a first inspection was done in 2011.
SHANGHAI – Yabao Pharmaceutical Co. Inc., of Beijing, has entered a partnership with Eli Lilly and Co. to co-develop Lilly's leading glucokinase activator (GKA), LY2608204, for China's diabetics.
SHANGHAI – Hong Kong-based Uni-Bio Science Group Ltd. (HKSE:690) said Uni-PTH, an anabolic agent that builds bone mass in postmenopausal women suffering from osteoporosis, has achieved its primary endpoint in a phase III trial. Uni-PTH could be considered a biosimilar of Forteo (teriparatide, Eli Lilly and Co.), but since China has no pathway to prove biosimilarity, Uni-Bio took the drug through its paces as if it were a new drug.
TOKYO – Japan's Ministry of Health, Labor and Welfare (MHLW) approved six new drugs, including one biosimilar, underscoring the country's drive to speed up drug approvals. And, in some instances, the approvals were done faster than in the U.S.
China Biologic Products Inc., of Beijing, said it priced a follow-on offering of about 1.6 million shares of common stock at a price of $38 per share. Of those, the company will be offering 800,000 shares for gross proceeds of about $30.4 million. The remaining 750,000 shares will be sold by a company stockholder, and China Biologic will not receive any of those proceeds.
HONG KONG – A Chinese maker of novel oncology, cardiovascular and metabolic drugs is floating shares in Hong Kong next month and has developed a plan to set itself apart from the pack.
TOKYO – Japan's Taiho Oncology Inc. reported positive results from a global phase III trial of its oral combination anticancer drug TAS-102 (trifluridine and tipiracil hydrochloride) in refractory metastatic colorectal cancer (mCRC).
HONG KONG – A Japanese technology company has reached an agreement with a UK-based orphan drug developer to co-develop and sell an orphan drug in Japan.
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