China's Sinocare reportedly has made a $1 billion bid for Germany-based Bayer's diabetes devices. As maker of blood-sugar monitors, Sinocare would be challenging a broader based company, Panasonic Healthcare, already months into discussions with the seller.
The Chinese Academy of Sciences says it is set to begin clinical trials on a drug it invented, SM934, a derivative of artemisinin for treating lupus. The only other drug developed specifically for the disease has been an antibody-based drug.
China and Russia have become new targets for compulsory-licensing campaigns as an activist group widens its global challenge to Gilead's expensive Sovaldi (sofosbuvir) hepatitis C drug.
China, the country of 5-year plans, has inaugurated a longer one: 10 years for increased manufacturing, including biomedicine and high-end medical devices. The State Council calls it "Made in China 2025."
WuXi PharmaTech, China's largest CRO, again boosted its revenue by double digits last quarter, keeping the pace of growth as it considers an offer to go private.
China's State Council plans to scrap a 15% markup on drug sales in major hospital nationwide, kicking into gear a pilot that aims to transform cost and quality issues over a two-year horizon.
Shanghai Pharmaceuticals has struck a deal with Chinese online retailer JD.com for OTC and other healthcare product sales as the space sees increased competition with rival Alibaba Group Holding, Reuters said, citing a Shanghai Stock Exchange announcement in Chinese by the drug company.
China and the Association of Southeast Asian Nations (ASEAN) have agreed to share information about infectious diseases that cross the region's borders, according to the state news service, Xinhua.
BeiGene CEO John Oyler has long said China has all the world-class science and entrepreneurial ambition necessary to become a biotech hotbed. All that's missing is the kind of venture capital interest startups enjoy on the other side of the Pacific, he said. Now his company, at work on a pipeline of cancer treatments, is bucking that trend, hauling in a $97 million round and speeding ahead in the clinic.
China's BeiGene said it has completed financing of more than CNY450 million ($75 million) from initial angel and strategic investors as well as new investors Hillhouse Capital and CITIC PE, joined by an unnamed "blue chip U.S. public investment fund" specializing in life sciences.