"Ethics matter" in China--and it's time for multinationals to take note, according to the country's official news agency. With a reputation-tarnishing scandal, dented China sales and a former top exec facing up to a lifetime in prison, GlaxoSmithKline's tale should serve as a prime example of what can happen if they don't.
A Haitian orphan born without fingers on both hands became the first beneficiary of a 3-D printed prosthesis in that country last month. Britain's John Marshall and South Africa's Richard van As developed the prosthesis. The printing cost was only $300.
What lies ahead for GlaxoSmithKline in China? The company has been waiting to find out since last summer, when investigators there charged it in a massive bribery scheme. But Glaxo may finally get some answers Wednesday, when Chinese police will brief the media about the drugmaker.
Eli Lilly in 2003 sold an antibiotics manufacturing plant in Cosmopolis, Brazil, to Italy's ACS Dobfar. But the fact that it has been more than a decade since Eli Lilly owned the facility has not kept the company from being ordered to pay $450 million to cover medical costs of dozens of plant employees for health problems they said came from exposure to hazardous materials.
China, concerned about shortages of some commonly used drugs, has agreed to raise price caps it earlier set.
Continuing its years-long effort to expand in emerging markets, Covidien has cut the ribbon on training center in Turkey, planning to educate local clinicians and amp up the demand for its products in the country.
Revenues at China's Mindray Medical increased 9.4% year-over-year to $264.8 million in the first quarter.
Boehringer Ingelheim is taking steps toward producing medicine in Saudi Arabia for the local market, striking a deal with two Saudi companies, Cigalah and Tabuk, which will manage and handle secondary packaging projects for 26 Boehringer Ingelheim products.
Toxicology specialist Harlan Laboratories is looking to tap the growing market for contract research in Oceania, signing a deal with local outfit Invenium Pharmacology to do so.
Faced with bans on some of its key drugmakers and intellectual property fights with Big Pharma, India has seen the worst pharma export numbers in a decade and a half.