WuXi PharmaTech boosted its revenue 15.6% last year, and China's largest CRO is expecting to match that growth in the new year, counting on steady demand for manufacturing and a larger share of the U.S. research market.
Eli Lilly and Chinese partner Novast have started on a new plant in China to manufacture generic versions of Lilly drugs, a bit of good news on a day when manufacturing issues had otherwise cast a shadow over the Indianapolis-based drugmaker.
It remains to be seen how much GlaxoSmithKline's China bribery scandal will cost the British pharma, but it has already cost CEO Andrew Witty up to $410,000 in potential bonus money, according to the company's annual report.
Bayer is joining the growing number of drugmakers expanding production capacity in China but in Bayer's case, it is doing it with an acquisition. The German drugmaker is buying one of the top makers of over-the-counter drugs and herbal medicines in the country and getting a number of plants in the process.
Bayer already has a big footprint in China, where it's been selling drugs since the 1930s. But that footprint is about to get a bit bigger. The company is set to buy out China's Dihon Pharmaceutical Group, a company that specializes in OTC drugs--making it just the kind of pickup the German drugmaker's been scouting for.
China has yet to leverage any formal penalties on GlaxoSmithKline for the $489 million bribery scandal that broke there last summer. But punishment may be on the way from GSK's home base.
France's Acerde, which develops parts for X-ray tubes used in medical imaging, said it inked a development contract with an unnamed "China-based player " in the medical imaging space.
The resurgence of H7N9 in recent months has pushed the death toll from the virus up past 70, but so far the bird flu has been mainly limited to bird-to-human transmission on mainland China. However, the seasonal circulation of H7N9 is putting it into contact with other flu viruses, and researchers fear a more contagious, virulent strain could result.
For those few who may question how China's healthcare spending boom can benefit medical device companies and their investors, consider the story of Hao Zhenxi, who has become a billionaire based on the success of his medical device company.
Chinese police have detained a man for allegedly spreading false bird flu rumors on social media, Reuters reports.