Posts tagged ‘Abbott Laboratories’

03/04/2015

A New Cancer Drug, Made in China – China Real Time Report – WSJ

Xian-Ping Lu left his job as director of research at drug maker Galderma R&D in Princeton, N.J., to co-found a biotech company to develop new medicines in his native China. As the WSJ’s Shirley S. Wang reports:

It took more than 14 years but the bet could be paying off. In February, Shenzhen Chipscreen Biosciences’ first therapy, a medication for a rare type of lymph-node cancer, hit the market in China.

The willingness of veterans like Dr. Lu and others to leave multinational drug companies for Chinese startups reflects a growing optimism in the industry here. The goal, encouraged by the government, is to move the Chinese drug industry beyond generic medicines and drugs based on ones developed in the West.

Chipscreen’s drug, called chidamide, or Epidaza, was developed from start to finish in China. The medicine is the first of its kind approved for sale in China, and just the fourth in a new class globally. Dr. Lu estimates the research cost of chidamide was about $70 million, or about one-tenth what it would have cost to develop in the U.S.

“They are a good example of the potential for innovation in China,” said Angus Cole, director at Monitor Deloitte and pharmaceuticals and biotechnology lead in China.

China’s spending on pharmaceuticals is expected to top $107 billion in 2015, up from $26 billion in 2007, according to Deloitte China. It will become the world’s second-largest drug market, after the U.S., by 2020, according to an analysis published last year in the Journal of Pharmaceutical Policy and Practice.

via A New Cancer Drug, Made in China – China Real Time Report – WSJ.

Advertisements
20/01/2015

Tapping China’s ‘Silver Hair Industry’ – China Real Time Report – WSJ

Researchers at Abbott Laboratories in Shanghai are busy testing flavors of nutritional drinks for China’s senior citizens. Kimberly-Clark Corp. has launched television ads for its Depend adult diapers and expanded distribution online. Local e-commerce companies like Alibaba Group Holding Ltd. and JD.com Inc. are rolling out senior-focused marketing pushes.

The companies are after the growing ranks of people born during a Mao Zedong-inspired baby boom that took the country’s population to nearly one billion people in 1980 from 542,000 in 1949. China’s birthrate dropped sharply during the 1970s and 1980s as the government reversed course and implemented a one-child policy.

The boomers are now hitting old age: China’s over-65 population is projected to soar to 210 million in 2030 from 110 million, and by 2050 will account for a quarter of China’s total population, according to United Nations data. By then, the U.N. says, China’s elderly population may exceed the entire U.S. population.

“What has us interested…is that half a billion people over the age of 60 will be living in China over the next 35 years,” said Scott White, president of Abbott’s international nutrition division.

via Tapping China’s ‘Silver Hair Industry’ – China Real Time Report – WSJ.

07/11/2014

India vs. China: The Battle for Global Manufacturing – Businessweek

With its chronic blackouts, crumbling roads, and other infrastructure woes, India should have no appeal for John Ginascol. A vice president at Abbott Laboratories (ABT), Ginascol is responsible for ensuring that the company’s food-products factories run smoothly worldwide. He can’t afford surprises when it comes to electricity, water, and other essentials. “People like me,” he says, “dream of having existing, good, reliable infrastructure.”

Yet Abbott has just opened its first plant in India, and Ginascol says there haven’t been any nightmares so far. In October the company began production at a $75 million factory in an industrial park in the western state of Gujarat. The factory is producing Similac baby formula and nutritional supplement PediaSure, which Abbott plans to sell to the growing Indian middle class. The plant will employ about 400 workers by the time it’s fully up and running next year. As for India’s infrastructure, Ginascol has no complaints. The officials in charge of the park “were able to deliver very good, very reliable power, water, natural gas, and roads,” he says. “Fundamentally, the infrastructure was in place.”

Indian Prime Minister Narendra Modi is hoping other executives will be similarly impressed with the ease of manufacturing in his country. Before Modi took charge in New Delhi, he headed the state government in Gujarat, and during his 13 years in power there he made the state an industrial leader. Manufacturing accounts for 28 percent of Gujarat’s economy, compared with 13 percent for the country as a whole, and a touch less than the 30 percent figure for manufacturing titan China.

via India vs. China: The Battle for Global Manufacturing – Businessweek.

26/10/2014

Frustrated Multinationals Look to Trim China-Based Staff – Businessweek

Slightly less than half of European companies operating in China plan to expand their mainland-based workforce in the next year—down from 61 percent in 2012, according to a recent survey by the European Chamber of Commerce. A quarter of these entities are looking for other ways to trim costs in China, and 51 percent believe doing business in China “has become more difficult” over the past few years.

The workshop of Bernard Controls, a French business that manufactures electric components in Beijing

Business isn’t typically bad—61 percent said their China operations were profitable—but it’s less spectacular than in past years. That’s due in part to China’s economic slowdown, in part to real and perceived hostility against foreign companies in China, and in part to problems or layoffs in their home offices.

American companies expressed similar concerns in a recent survey by the U.S. Chamber of Commerce. Fully 60 percent of U.S. businesses said they felt “less welcome” in China than in the previous year. Anticorruption and pricing probes in wide-ranging industries have seemingly singled out foreign companies, from Microsoft (MSFT) to Abbott Laboratories (ABT), as targets. Almost half of those surveyed said they thought the pattern of harassment was deliberate.

via Frustrated Multinationals Look to Trim China-Based Staff – Businessweek.

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India