Domain Associates' Elite enterprise is making its first investment in a China-focused company. The venture capital firm will sink $6.5 million into SMART Medical Systems, an Israeli developer and manufacturer of cost-effective endoscopy and colonoscopy products.
With concerns over hand, foot, and mouth disease mounting over the past few years, China has made moves to support the development of a vaccine for one of its causes, enterovirus 71.
Chinese vaccinemaker Sinovac Biotech has won a grant from the Chinese government to build a production facility to manufacture its vaccine against hand, foot, and mouth disease. The awarding of the grant is a good omen that the government will approve the company's vaccine, which was submitted last year for approval.
Chinese CRO WuXi PharmaTech has convinced Steve Yang, head of Asian R&D for AstraZeneca, to jump ship, joining the company as it looks to expand its presence in its home country and abroad.
On Tuesday, the Chinese government quietly announced that it is easing up on its policy of restricting drug prices and will allow pharmaceutical companies to set prices on some medicines, according to Reuters.
The FDA has been trying for several years to expand its inspection staff in China, a country that accounts for many of the active pharmaceutical ingredients used in U.S. drugs. But according to testimony in a hearing last week, the agency currently has only two drug inspectors stationed in the country.
WuXi PharmaTech, China's largest pharma outsourcing outfit, is investing in a startup that makes tiny, edible bar codes designed to prevent drug counterfeiting, planning to offer the same technology to its manufacturing customers.
With GlaxoSmithKline's China operations under investigation amid bribery allegations, the company is keeping its employees there under a more watchful eye.
Nine months after GlaxoSmithKline's bribery scandal first ignited a corruption hunt among Big Pharma companies in China, drugmakers--GSK excepted--are returning to the strong emerging-markets growth they're accustomed to in the country.
Dehaier Medical Systems' turnaround hasn't paid off yet. The Chinese medical device maker spent 2013 reorienting its business towards government procurement and sleep respiratory devices, and away from the increasingly competitive medical equipment business. Amid the refocus, annual revenue declined 21.11% to $16.86 million and net income fell to $2 million in 2013 from $3.22 million during 2012.