Unfortunately for foreign devicemakers, import substitution appears to be one of the means by which China intends to achieve its goal of creating 10 med tech breadwinners worth 5 billion yuan ($820 million) apiece by 2020.
Multinational pharma companies have been targeting China for years with an eye on its aging population, expanding middle class and growing incidence of chronic maladies like diabetes. So how are Germany's leading pharmas, Bayer and Merck KGaA, carving out an edge for themselves? Reputation, tech-sharing and cold, hard cash.
J&J is officially cutting the ribbon on its new partnering office in Shanghai, completing the pharma giant's global plan to hit the ground running in all the world's top biotech hot spots. It's taking the wraps off of a lineup of new discovery deals with universities in the region. And it's spreading out feelers for more deals through satellite offices in Australia, Singapore and Japan.
The FDA has taken steps against a Chinese heparin maker it says is using potentially tainted raw supplies and which refused to let inspectors get a good look at its plants or records so that it could find out for sure.
Vet drug company Ceva Santé Animale will begin shipping injectable drugs this week to China from a newly renovated and expanded plant at the company's headquarters in Libourne, France.
The problem of contaminated cold remedies has once again surfaced in the U.S. More than seven years after diethylene glycol put authorities on high alert, a toddler in New York has suffered from lead poisoning after taking a Chinese cold remedy.
Investment group Blackstone has reportedly made a $100 million investment into Chinese orthopedic device company Xinrong Best Medical Instrument Co. This is the firm's first foray into a medical investment in China, but in March it did take private Chinese tech outsourcing company Pactera Technology.
Biocept now has what every life sciences company pursuing expansion in China needs: local patent approval.
Chinese justice came swift and in secret for GlaxoSmithKline today. A top executive narrowly escaped prison, and the company was convicted and will pay a fine of nearly $500 million for bribery in a country known for its corruption.
Merck is investing €80 million ($107.67 million) in a new plant in China to make treatments for diabetes and other conditions and to realize its aspirations there. But it appears it is looking to India as a way to cut production costs on some of its older products.