A key drug company in China fired a new salvo in the online over-the-counter healthcare market with an eye on wider sales of ethical products in hopes the China Food and Drug Administration (CFDA) will come through on plans to allow online sales of prescription drugs at some point this year.
Pfizer has no problem keeping sales for Viagra flying high in China, where brand awareness campaigns and changing attitudes toward sex have given it a sizable hold on the ED market. But the company is facing some headwind in the country, as Chinese marketing authorities slapped Pfizer with a fine for paying local drugstores to promote its blockbuster ED med.
Investigational new drug applications for oncology in China may see a 60-day deadline for a thumbs up, or down, placing the country on a path already followed by Singapore, Taiwan and South Korea for quick early-stage decisions.
In a continued stream of North American dealmaking, China's Shenzhen Hepalink Pharmaceutical bought U.S.-based biologics contract manufacturer Cytovance Biologics for $205.7 million and unspecified contingency payments with plans to accelerate the target's expansion plans.
Chalk up a second one for China-focused Decheng Capital in a month as U.S.-based BD Life buys Cellular Research, one of the portfolio companies of the venture capital firm.
Illumina is joining forces with China's Burning Rock to create cancer diagnostics geared toward the Chinese market, combining its sequencing prowess with Burning Rock's research know-how to increase its footprint in the country.
The widely reported slowdown in sales in China noted across most multinational pharma companies deserves a harder look, The Wall Street Journal says.
China expects public hospital reforms for 100 cities to be completed by the end of December, with the government also seeing an October start to a massive job of changing the way county-level hospitals operate, China Daily said, citing a National Health and Family Planning Commission report at a press conference.
China's decision this week to spur innovation and approvals in drugs and medical devices has allowed for some long-term silver lining prospects for European drug makers after disappointing second quarter sales for most multinational firms there, Reuters reports.
BeiGene is moving to Suzhou, in part, with plans to branch out from its capital city headquarters and develop a novel oncology drug operation that includes a cGMP manufacturing facility in Suzhou's BioBAY, the company said in a press release.