Emerging Markets

Latest Headlines

Latest Headlines

Emboldened by their GSK probe, Chinese officials step up pharma snooping

Pharma industry probes are far from over, China-based professionals say. And with the country trying desperately to drive down healthcare costs for its population of close to 1.4 billion, Big Pharma had best be careful. Local officials are making it clear that Big Brother is watching.

First, bribery. Now, China floats tax-evasion accusations against GlaxoSmithKline

More accusations against GlaxoSmithKline are flying in China, but this time they're not about bribery. They're about taxes. A government-run legal newspaper alleges that the British drug giant evaded millions in taxes, compounding the company's growing problems in the country.

WuXi scores more double-digit growth amid its global expansion

Chinese CRO WuXi PharmaTech notched another strong sales quarter, boosting its revenue by 11.3% thanks to escalating demand for its manufacturing services.

Xinhua: Multinationals, beware--or end up like Glaxo

"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.

3-D printed prosthesis enables Haitian orphan to use hand

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. 

Chinese officials to shed some light on Glaxo probe at press briefing

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.

Lilly, Dobfar nailed with $450M fine, judge orders Brazilian plant closed

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 eases price controls over concerns of shortages

China, concerned about shortages of some commonly used drugs, has agreed to raise price caps it earlier set.

Covidien sets sights on Turkey with latest training outpost

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.

Mindray Medical revenue jumps up by 9% in Q1

Revenues at China's Mindray Medical increased 9.4% year-over-year to $264.8 million in the first quarter.