Glenmark launches low cost Type 2 diabetes drug; China's Tianjin says biopharma output up;

> India's Glenmark Pharmaceuticals has launched Type 2 diabetes drug Teneligliptin, patented by Japan's Mitsubishi Tanabe Pharma globally except in India, that it says will cost as much as 55% less than competitors. Glenmark manufactures the drug in India as a generic and sells it under the Ziten and Zita plus brands. Report

> A new Asian healthcare hedge fund is up and running in Hong Kong, Bloomberg reports. Ally Bridge LB Healthcare Fund began trading on July 15 with an eye for opportunities created by Chinese reforms since 2007. Frank Yu, former Och-Ziff Capital Management Group head of China investments, started the venture. Information about the size of the fund was not available, Bloomberg said. Report

> A Chinese industry group in Tianjin said production of biopharmaceuticals in the city reached RMB56.4 billion ($9.1 billion) in the first 5 months of the year, an increase of 14.31%. The numbers highlight its aim to be a key manufacturing cluster domestically that will be bolstered by the planned Tianjin Pilot Free Trade Zone. Report

> Hong Kong-based OrbusNeich has signed up its first patient for clinical trials in China for its COMBO Dual Therapy Stent coated with anti-CD3 antibodies to promote endothelialization, the company said in a release. The multi-center study is a prospective, non-inferiority, randomized controlled trial with plans for 436 patients at up to 20 leading hospitals throughout China. Release (PDF)

> Taiwan's Ministry of Economic Affairs has said it will help local businesses form partnerships with Japanese companies on health products, medical equipment, machinery and environmental protection as promising areas of trade. Report

> Japan's Pharmaceuticals and Medical Devices Agency will mark the launch of strategic regulatory plans in conjunction with the Ministry of Health, Labor and Welfare on Sept. 3 in Tokyo. Release

> A novel technique to use a bacteria's own sugar to fight antibiotic-resistant superbugs shows promise, according to a study published in the scientific journal Nature Communications by researchers from the University of Queensland. Report