Merck KGaA will start construction next month on a plant to make diabetes drugs in China, a market it says is key to its future. The market is so important that the executive board of the German drugmaker held an event there to reiterate that point to Chinese officials.
China has abruptly changed course on its plans to prosecute private investigator Peter Humphrey and his wife Yu Yingzeng in a closed trial. Now Humphrey and Yu, who were arrested last summer as part of China's investigation of bribery charges involving GlaxoSmithKline, will be tried in a public proceeding.
GlaxoSmithKline's bribery woes in China apparently go back a bit further than the $489 million scandal that broke last summer. The U.K. company has acknowledged that it fired about 30 staffers in its China vaccines business in 2001 after turning up evidence of corruption.
Two months after charging three China-based executives of GlaxoSmithKline with bribery, that country is coming down hard on a British private investigator and his wife for their alleged roles in the widening scandal. British private investigator Peter Humphrey and his wife Yu Yingzeng, who is an American, have been indicted for illegally collecting private information on Chinese citizens, according to the state's news agency, Xinhua.
Chinese clinical research outfit HD Biosciences has struck a deal with Marshall University to collaborate on cancer drug development, sharing costs and risks in hopes of commercializing new therapies.
China's animal vaccine market grew a whopping 26% between 2004 and 2013, research from a new market report shows--and analysts say the market shows no sign of stopping anytime soon, forecasting further growth of 15% by 2016.
Until now, the widening soap opera that has left GlaxoSmithKline facing bribery charges in China seemed to be Britain's problem. But now the United States is stepping in, as China moves to try an American in a secret courtroom procedure starting August 7.
China's arrest of British private investigator Peter Humphrey and his American wife Yu Yingzeng last summer was a shock to the pharmaceutical community, as Humphrey's firm, ChinaWhys, had long provided assistance to drug companies trying to navigate that country's complicated business environment. Now it looks as if the two are going to be tried privately--in a closed-trial procedure that China normally reserves for cases involving national security or state secrets.
Diversified conglomerate Danaher emphasized organic growth rather than acquisitions at a recent investor meeting. That's despite much speculation on its M&A appetite following the Medtronic announcement that it will acquire Covidien.
China has established new rules to protect its pharma supply from counterfeiting and allow for faster recalls, but the government shortened the timeframe for meeting them: forcing drumakers and contractors to scramble to catch up.