Posts tagged ‘Pharmaceutical industry’

28/06/2016

Pfizer to invest $350 million in China biotech hub, first in Asia | Reuters

Pfizer Inc (PFE.N) will invest $350 million to build a biotech center in China, the latest in a series of moves by pharma industry giants to set up shop in the world’s no. 2 drugs market with the aim of securing faster approvals for their products.

The facility in eastern Hangzhou region – Pfizer’s first biotech center in Asia – is expected to be completed by 2018, the firm said in a statement on Tuesday.

Global “Big Pharma” is increasingly looking for smart ways to tap China’s healthcare market, estimated by consultancy IMS Health to be worth around $185 billion by 2018. From investing in China facilities to acquisitions, licensing deals and joint ventures, the aim is to seek an edge in dealings with domestic regulators and government.

John Young, group president for Pfizer’s essential health division, said in the statement that the Hangzhou facility should “help support China’s aim to increase the complexity and value of its manufacturing sector by 2025”.

Pfizer said it would “work closely” with local regulators to bring the drugs “to market as soon as possible”. The center will mostly on biologic drugs – made from living micro-organisms rather than chemically synthesized – and lower-cost ‘biosimilars’, of generic versions of biologics.

Pharmaceutical executives have long complained about the slow process of getting drugs to market in China, while others have run up against regulatory roadblocks. Pfizer had to close its vaccine business in the country last year after a license for its top-selling vaccine Prevenar was not renewed.

China’s overall healthcare spending is set to hit $1.3 trillion by 2020, but drug market growth has slowed to a low single-digit percentage pace from over 20 percent just four years ago as branded generics have lost their shine and Beijing has looked to drive down prices to keep a lid on costs.

Source: Pfizer to invest $350 million in China biotech hub, first in Asia | Reuters

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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.

23/07/2013

First U.S. citizen detained as China pharma probe spreads

First crackdown on party members and officials, now on commercial organisations.  China‘s anti-corruption campaign gathers pace.

Reuters: “The first U.S. citizen has been detained in China in connection with probes sparked by an unfolding corruption scandal in the drugs industry, as China widens the range of international firms and staff under the spotlight.

A Chinese national flag flutters in front of a GlaxoSmithKline (GSK) office building in Shanghai July 12, 2013. REUTERS/Aly Song

Police have also questioned two further Chinese employees from drug maker