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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
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Charles River
»16/02/2010 [Company watch]
Charles River Labs Disappointed by Weak Demand for China Lab

Charles River Labs declared itself surprised at the low level of demand for its China CRO services. The company opened its lab in October 2008 and, almost immediately after, it was said to be looking for a second site.

 
Charles River Labs declared itself surprised at the low level of demand for its China CRO services. The company opened its lab in October 2008 and, almost immediately after, it was said to be looking for a second site. However, the amount of activity in its Shanghai facility has always been less than the company’s expectations, which were based on discussions with China biopharmas. Despite the slow start, Charles River remains positive on China’s longer-term prospects, and it feels it must be in China now to take advantage of China’s future growth. “We thought the facility would fill up rapidly, and we’d have to race to site a second lab,” said Foster, CEO of Charles River. “Spending on development of compounds has been less than what they told us ... We can’t test compounds that don’t exist,” he added. Foster’s remarks were reported in a recent article in the Boston Business Journal (see article). The article was a partially negative exception in an otherwise optimistic review of Boston area life science firms that are expanding their activities in China. Although Foster was somewhat sour on the uptake of his company’s CRO services in China, he said the company still plans to expand in China. And that expansion is taking place as the company closes existing facilities in the west. Last month, Charles River shuttered a pre-clinical facility in Shrewsbury, Massachusetts, laying off 300 workers. The closure was termed temporary; the company plans to reopen the facility if demand resumes. Longer-term, Charles River is very positive on the outlook for life science in China: [The Shanghai facility is huge. It was built to support local biotechs, and funding has been tight. We have to get ahead of the Chinese market because when it takes off, it’s going to increase dramatically, said Foster.

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