SHANGHAI – Simcere Pharmaceutical Group has completed a management buyout first announced in March and subsequent delisting from the New York Stock Exchange (NYSE:SCR). Going private will protect the company from revealing information publicly during a sensitive time as Chinese biopharmas have been rocked by bribery scandals for the past six months.
HONG KONG – Looking to expand its range of biotech products, a state-owned Chinese trading conglomerate will work with Cuba’s largest biotechnology firm to expand its product offerings while helping its smaller partner expand its global presence.
SHANGHAI – In 2011 Shanghai-based Hua Medicine Ltd. made headlines in China as a start-up R&D biotech flush with a $50 million commitment from venture capital investors and a crew of talented veterans as founders and board members.
Taigen Biotechnology Co. Ltd., of Taipei, Taiwan, said the FDA granted Taigexyn (nemonoxacin) qualified infectious disease product and fast track designations for community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections.
HONG KONG – Authorities in China have now banned all hepatitis B vaccines (HBV) produced by Shenzhen Kangtai Biological Products Co. after the deaths of five more children.
HONG KONG – The China Food and Drug Administration (CFDA) has approved the first novel monoclonal antibody (MAb) in China with global intellectual property rights. Compaq Sipp ophthalmic injection (conbercept), a VEGF receptor antagonist, for wet age-related macular degeneration (AMD), joins similar biologics – such as Avastin (bevacizumab) and Lucentis (ranibizumab) with blockbuster sales potential.
HONG KONG – The market for expensive blood products in China is attracting biotech companies looking to boost their bottom lines, but a surge in imports, driven by high supply levels abroad, is pressuring the bottom lines of domestic suppliers.
SHANGHAI – Advaxis Inc. signed an exclusive licensing agreement with newly minted Global Biopharma Inc. (GBP), of Taiwan, to develop and commercialize ADXH-HPV, an immunotherapy treatment for human papillomavirus (HPV) associated diseases.
SHANGHAI – Amgen Inc. entered China in 2012, more than a decade after most other global players in the industry. While some may think the big biotech is a late comer, company execs say the time is just right to develop innovative drugs in a country where most drug makers focus on generics.
HONG KONG – Multinational biopharmaceutical companies are looking beyond China and paying more attention to emerging markets in Asia, even as local companies are looking outward from their home markets and using biosimilars as their ladders to climb up to the global market.
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