GlaxoSmithKline is struggling to grow sales post-China bribery scandal, cutting jobs in the U.S. while focusing on a long-term overhaul to manufacturing and R&D to chart some upward momentum. The company was said to be exploring job cuts in China to deliver a much-needed boost to its bottom line, but GSK is refuting those reports, potentially taking a different route to get business back on track.
SINGAPORE-- China's FDA has issued the country's first GSP (Good Supply Practices) rules that will cover 1, 2 and 3 medical device distributors, as it moves to harmonize practices followed elsewhere in the world and rein in service providers of medical devices that may not have detailed technical expertise.
Innovent Biologics has raised $100 million in venture cash in hopes of becoming the premier maker of biotech drugs in its native China, advancing a pipeline of biosimilars and proprietary treatments.
Johnson & Johnson was strongly hit by weaker currencies across Asia in the fourth quarter with the company struggling to hedge risk, indicating to executives that further impacts to the bottom line in these fast-growing markets are expected in 2015.
Guangzhou Baiyunshan Pharmaceutical Co. ($600332) plans to raise RMB 10 billion ($1.6 billion) to fund its research and development programs and expand product distribution is banking on support from Yunfeng, a private equity firm co-founded by Jack Ma, chairman and founder of the Alibaba Group ($BABA).
This week, China joined a growing list of countries banning the import of U.S. poultry products following reports of the discovery of a highly contagious strain of avian influenza in three West Coast states.
The China Food and Drug Administration plans to allow online sales of prescription drugs as early as this month, opening up the market to existing online e-commerce platform operators like Alibaba.com and JD.com.
China's FDA has green-lighted the world's first Sabin strain inactivated polio vaccine--and a locally produced one, at that.
NextCODE has made a sharp exit. Just 15 months after some ex-deCode Genetics executives struck a deal with Amgen to create NextCODE, Chinese CRO WuXi PharmaTech has bought the genomic analysis startup for $65 million in cash.
Pet retail chain Petco announced on its new blog Pet Talk Place that it has removed all dog and cat treats made in China from its store shelves, becoming the first national retailer to do so.