by: ChinaBio Today ,
IMS Health has upped its count of â€śpharmergingâ€ť countries to 17 high-growth pharmaceutical markets. Previously, only seven markets qualified. According to IMS Health, these 17 countries represent $90 billion of increased pharmaceutical spending during 2009-13, collectively offering 48% of the growth in the worldwide market in 2013. China is the most significant opportunity of the 17, a market that is â€śin a league of its ownâ€ť in the words of the healthcare consultancy company.
Shanghai Zhangjiang Biotech & Pharmaceutical Base Development Company has signed a cooperation agreement with Swedenâ€™s Uppsala BIO and Uppsala Innovation Centre.
MicuRx Pharmaceuticals filed an Investigational New Drug (IND) application with the SFDA for MRX-I, its most-advanced antibiotic drug candidate.
Novartis AG , the Swiss multinational pharma, said revenues in China grew 36% last year, far better than the companyâ€™s overall 11% rise in sales.
China Sky One Medical expects 2010 revenues to grow by 20% to $156 million. Net income, however, will increase by a more modest 13% to $39 million, as the company ups its R&D to 15% of revenue.
Vycor Medical, Inc.will seek SFDA approval for its VBAS (ViewSiteâ„˘ Brain Access System), an innovative retraction system for use during brain surgery.
Lee Pharmaceutical Holdings, which is headquartered in Hong Kong, signed an exclusive license for China distribution of a Recordati S.p.A. [MI: RECI] antihypertensive drug, ZanidipÂ® (lercanidipine). Zanidip is a calcium channel blocker.
The FDA has told XiAn Libang Pharmaceuticals to improve its quality control procedures, if it wants to continue importing products to the US. The US agency told the company to hire an outside auditor to develop a Corrective Action Plan and respond to the warning letter within 15 days.