NEWSpublisher 2007 :: AngloChinese Investments
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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
COMPANY NEWS » Contract Research Orgs » Covance  1    
found files: 10
Covance »30/04/2007 [Company watch]
First Quarter 07 Results

copy of results...   more»

Covance »30/08/2007 [Company watch]
Covance Advances on its Shanghai Lab

Interestingly, Covance said its increased presence in China was due to the higher level of pharmaceutical activity there. Usually, companies invest in China because of some combination of low costs or interest in the country’s growing market for drugs. Because China is expected to be the fifth largest market in the world by 2010 – just three years away – Covance felt the need to be a part of this vital area of pharmaceutical enterprise, to be close to the action. Covance is a $4.5 billion contract research organization with revenues of $1.5 billion annually. During the last week, we noted that big pharma was choosing to build new facilities in China rather than India (see story). Then Novartis (NVS), which just last year announced its intention to make major investments in both countries, reneged on its commitment to India (see story). The cause underlying both stories was poor patent protection in India. For Novartis, the decision was made after the company lost a patent infringement suit against a generic version of leukemia drug Gleevec. Also in the news last week, Beijing Med-Pharm (BJGP) raised $31 million that will allow the company to continue its acquisitive ways (see story), China Shenghuo (KUN) reported much improved Q2 results (see story), Optimer Pharma (OPTR) entered talks with C&O Pharma (of Taiwan, Hong Kong and China) to discuss future collaborations (see story), and China decided to allow its citizens the right to invest in Hong Kong-listed stocks (see story). The change may have the effect of making Hong Kong a more-preferred exchange for biomedical enterprises that are planning their IPOs....   more»

Covance »17/09/2007 [Company watch]
Covance nominates Bi Honggang as VP, GM in China

Covance, the world's second largest contract research organization (CRO), recently announced the successful nomination of Bi Honggang as Vice President and General Manager, China. Bi will lead Covance's business activities in China and represent Covance in its regulatory activities with the Chinese government. Bi Honggang received his Ph.D. in chemistry and drug metabolism from McGill University in Montreal, Canada, and has more than 15 years experience in pharmaceutical research and development at companies including SmithKline Beecham, Parke-Davis, and Pfizer. Before joining Covance, Bi worked as Chief Executive Officer of Frontage Laboratories in Malvern, Pa. Covance established its first clinical office in Beijing in 1998 and recently opened its fifth global central laboratory in Shanghai, China....   more»

Covance »25/06/2008 [Company watch]
Covance & Wuxi Form Joint Venture

From Covance web-site: Covance and WuXi PharmaTech to Form a Joint Venture to Provide World-Class Preclinical Services in China PRINCETON, N.J. and SHANGHAI, China, June 24, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- WuXi PharmaTech (NYSE: WX) and Covance Inc. (NYSE: CVD) today announced that the two companies have entered into a Memorandum of Understanding to create a 50-50 joint venture which will provide world-class preclinical contract research services in China. Operations of the proposed joint venture will be located in a 323,450 square-foot, purpose-built facility in Suzhou, China, which is currently being constructed by WuXi. This state-of-the-art facility, expected to be completed in 2009 and designed to meet the United States Food and Drug Administration and worldwide regulatory standards, will provide GLP toxicology, drug metabolism and bioanalytical chemistry services. In addition to the facility, which will be provided by WuXi, Covance anticipates to make an initial investment of approximately $30 million. Financial and structural details of the joint venture are expected to be disclosed once definitive terms are agreed and the entity is officially formed later this year. "This joint venture will create a powerful partnership between China's leading provider of discovery and development services with the world's largest public contract research organization," said Joe Herring, Covance chairman and chief executive officer. "Covance and WuXi share a common commitment to quality, people, and building client relationships based on trust and performance. Covance's market-leading and high-quality preclinical operations, combined with WuXi's track record of delivering world-class drug discovery and development services, will enable us to provide superior drug development solutions to our global pharmaceutical and biotech clients in the region." "We are pleased to partner with Covance, one of the world's largest and most comprehensive drug development service companies," said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. "We will be able to immediately leverage Covance's world-class expertise and global network. This will allow us to accelerate bringing a full-range of preclinical services and GLP toxicology capabilities to this facility. The partnership is important to our mission of building a global R&D outsourcing service platform that will ultimately help our partners to improve the success of discovery and shorten the time of development." China is becoming increasingly attractive for delivering high quality outsourced discovery and development services. Many multinational pharmaceutical, biotechnology and medical device companies have already established presence in China in order to access its rapidly expanding healthcare market; tap into its large patient population for global trials; and take advantage of its huge talent pool for outsourced R&D work. As a result, the preclinical service market in China is expected to grow rapidly in the coming years. The joint venture between WuXi PharmaTech and Covance will allow customers of both companies to fully leverage the advantages of conducting preclinical research and development in China, and potentially submit global and domestic regulatory applications...   more»

Covance »29/09/2008 [Company watch]
Covance Inc. announced today that it will no longer pursue a 50-50 joint venture with WuXi Pharmatech

Covance Inc. announced today that it will no longer pursue a 50-50 joint venture with WuXi Pharmatech to provide preclinical contract research services in China. "We expect China will become an attractive region for outsourced drug development services over the longer-term. To seize this opportunity, we will pursue our original strategy to build our own world-class preclinical facility in the region and aggressively compete as the global market leader in a business we know very well. We plan to build a comprehensive preclinical capability that matches the high-quality facilities and scientific teams our clients have grown to trust in Europe and North America," said Joe Herring, Covance chairman and chief executive officer. "Once built, the preclinical facility will complement our existing Phase II/III clinical development, central laboratory and our new bioanalytical capability in China and allow us to enjoy the full financial benefits of further leveraging Covance's high- quality brand and drug development experience into Asia."...   more»

Covance »03/11/2008 [Company watch]
Covance Taking China Growth Slowly

Following the collapse of its Joint Venture arrangement with WuXi PharmaTech (WX), Covance (CVD) will build its own China CRO facilities, but the company does not feel any great pressure to get the job done quickly. The reason? China’s current cost advantage will soon disappear, as wages for scientists in China approach those in the West, according to Joe Herring, CEO of Covance....   more»

Covance »09/04/2009 [Company watch]
Covance Central Laboratory Receives CAP Accreditation in China

Covance Inc. today announced that the companys Shanghai, China central laboratory has achieved accreditation by the College of American Pathologists (CAP)....   more»

Covance »31/07/2009 [Company watch]
Covance Becomes First CRO to Globally Deliver Innovative Technique for TK/PK Sampling

Covance Inc. today announced the addition of a new global integrated service supporting the Dried Blood Spot (DBS) sampling technique with Good Laboratory Practice (GLP) toxicology and bioanalytical analysis. Conforming to the three R\'s guiding principles of research — reduction, replacement, and refinement — DBS sampling provides higher quality toxicokinetic data while reducing test article, shipping, and storage requirements....   more»

»21/12/2009 [Company watch]
Covance Expands Offices in Japan and Hong Kong

Covance Inc. today announced the opening of new clinical development offices in Seoul, South Korea and Mumbai, India and office expansions in Tokyo, Japan and Hong Kong, China to accommodate growing demand for clinical development services in Asia-Pacific....   more»

»31/01/2010 [Company watch]
Covance Increases Emerging Markets Focus: Building Pre-Clinical Facility in China

Joe Herring, Chairman and CEO of Covance, estimated the company will make an investment of between $20 to $25 million to establish the pre-clinical facility, part of which was spent in 2009....   more»

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