Eli Lilly is investing aggressively in China, according to the company’s CEO John Lechleiter. To give substance to the claim, Lechleiter said Lilly will launch 15 new products in China over the next five years, has already made $40 million in venture capital investments from its $100 million China VC fund, and, not surprisingly, expects to increase its China revenues this year. Two Japanese drug companies, Teijin Pharma and Astellas, have teamed up to develop and market Teijin treatment for gout, TMX-67 (febuxostat), in China and Hong Kong. TMX-67 is an oral, once-daily, non-purine selective inhibitor of xanthine oxidase that is, according to Teijin, especially notable for being well-tolerated by patients with mild renal impairment. China Pharmaceuticals, Inc. has completed a reverse merger with Allstar Restaurants. Effective March 30, 2010, the company changed its name to China Pharmaceuticals, reflecting its new business, and it began trading under its new symbol. Headquartered in Xi’an, Shaanxi Province, China Pharma produces 85 TCM and western medical products. AlphaRx, Inc. plans to list its Canadian subsidiary on a Canadian exchange . This will create two independent entities: the Canada-listed company focused on China and emerging markets, and the US-listed company dedicated to developed countries. AlphaRx applies a variety of patented nano-technologies to existing medications to improve their delivery. ProMetic Life Sciences has completed the first milestone in its strategic collaboration with the Wuhan Institute of Biological Products, a subsidiary of China National Pharmaceutical Group Corp (Sinopharm). ProMetic has licensed its proprietary protein technologies to Sinopharm, with the goal of allowing WIBP to produce biosimilar drug products. Martek Biosciences Corporation has expanded to China by exporting its microalgae-grown food additive, DHA omega-3, through COFCO Food Sales & Distribution Co. DHA omega-3, a long-chain omega-3 fatty acid, serves as a primary building block for the brain and the eyes. It is added to almost all infant formulas in the US. Quintiles China Global Central Lab, located in Beijing, was accorded the national Best Central Lab 2009 award from Shanghai Mental Health Centre. Quintiles, a privately held CRO that has been in China for more than 10 years, has offices in both Beijing and Shanghai. The company offers R&D, clinical trial and commercialization services around the globe. Qiagen NV has created a sponsored professorship in life sciences at the University of Science and Technology of China (USTC), which will be called the “QIAGEN Initiative Foundation Professorship”. USTC, located in Hebei, Anhui Province, lists life science as one of its areas of specialization. It was founded in 1958 to promote innovation in science and technology. China Aoxing Pharmaceutical Company has dropped the “China” part of its name to help the company sell its pain management products outside of China, and it also announced a 1-for-2 reverse stock split, effective immediately. The company said it would trade under a temporary symbol [CAXGD] for 20 sessions, then revert to its usual symbol.
Gates Foundation to invest in China Research
China to train 300,000 Medical Practitioners