SHANGHAI – Wuxi Pharmatech (Cayman) Inc., a new breed of contract R&D organization, has completed the privatization process, requesting its stocks to stop trading on the New York Stock Exchange on Dec. 10. Wuxi’s chairman and chief executive, Ge Li, along with a consortium of private-equity investors paid $3.3 billion in cash to complete the deal. Wuxi first listed in the U.S. in 2007.
SHANGHAI – Beijing-based Beigene Co. Ltd. has shared positive phase I results for BGB-3111, a targeted small-molecule BTK inhibitor to treat B-cell malignancies that Beigene execs believe has the potential to become first in class, beating out ibrutinib (Imbruvica, Pharmacyclics Inc./Johnson & Johnson), the only BTK inhibitor currently on the market in the U.S. and Europe.
SHANGHAI – In what could be called a surprising about-face, Eisai Co. Ltd. has bought itself a small piece of China's generic market with the acquisition of Liaoning Tianyi Biological Pharmaceutical Co. Ltd., for $78.2 million. Eisai's execs said they are hoping to take advantage of a segment they believe will see robust growth in the coming years in China: high-quality generic drugs.
SHANGHAI – Getting a drug to patients in China's huge, fractured market is no easy task. But it is a challenge China's state-owned firm, Sinopharm Group, happens to have well under control: It is China's biggest drug distributor, and, not surprisingly, it is the first firm in China's health care sector to make the Fortune 500 list. Last year, Sinopharm's revenues topped $30 billion.
SHANGHAI – Getting a drug to patients in China's huge, fractured market is no easy task. But it is a challenge China's state-owned firm, Sinopharm Group, happens to have well under control: It is China's biggest drug distributor, and, not surprisingly, it is the first firm in China's health care sector to make the Fortune 500 list. Last year, Sinopharm's revenues topped $30 billion.
SHANGHAI – In what could be called a surprising about-face, Eisai Co. Ltd. has bought itself a small piece of China's generic market with the acquisition of Liaoning Tianyi Biological Pharmaceutical Co. Ltd., for $78.2 million. Eisai's execs said they are hoping to take advantage of a segment they believe will see robust growth in the coming years in China: high-quality generic drugs.
SHANGHAI – Ascletis Pharmaceuticals Co. Ltd. – China's answer to Gilead Sciences Inc. with its own curative HCV treatments in the clinic here – has just received its second tranche of financial backing in almost as many months, but this time around the funds are coming from investment bank, Goldman Sachs.
SHANGHAI – Glaxosmithkline plc has had a rough couple of years in China. But the big pharma is seeking now to emerge from the dust of a scandal that forced it to pay a $3 billion fine for giving bribes to boost drug sales and led to suspended prison sentences for five executives and the embarrassing deportation of GSK's China general manager.
SHANGHAI – Glaxosmithkline plc has had a rough couple of years in China. But the big pharma is seeking now to emerge from the dust of a scandal that forced it to pay a $3 billion fine for giving bribes to boost drug sales and led to suspended prison sentences for five executives and the embarrassing deportation of GSK's China general manager.
SHANGHAI – Zai Labs Ltd., of Shanghai, signed a China rights deal, including Hong Kong and Macau, for a coveted late-stage targeted non-small-cell lung cancer (NSCLC) therapy, HM61713, from Hanmi Pharmaceuticals Co. Ltd., of Seoul, Korea.
