News & Analysis

MicuRx Files IND in China for New Antibiotic Mar 16, 2010: MicuRx Pharmaceuticals filed an Investigational New Drug (IND) application with the SFDA for MRX-I, its most-advanced antibiotic drug candidate. MRX-I, an orally-administered oxazolidinone, targets drug resistant infections. MicuRx is headquarterd in the San Francisco area, but it has a 10,000 square foot laboratory in Shanghai’s Zhangjiang High-Tech Park. More details...

Novartis’ China Revenues Climb 36% in 2009 Mar 16, 2010: Novartis AG, the Swiss multinational pharma, said revenues in China grew 36% last year, far better than the company’s overall 11% rise in sales. In 2009, Novartis China was helped by supplying 100 million doses of the company’s A(H1N1) pandemic vaccine to China. Novartis China markets pharmaceuticals, vaccines, and diagnostics. More details...

Stock Symbol: (NYSE: NVS)

Lee’s Pharma to Distribute Recordati Hypertension Drug Mar 16, 2010: Lee's Pharmaceutical Holdings Limited, which is headquartered in Hong Kong, signed an exclusive license for China distribution of a Recordati S.p.A. antihypertensive drug, Zanidip® (lercanidipine). Zanidip is a calcium channel blocker (CCB). Terms of the agreement were not disclosed. More details...

Stock Symbols: (GEM: 8221) (MI: RECI)

FDA Issues Warning to China API Maker Mar 15, 2010: The FDA has told XiAn Libang Pharmaceuticals to improve its quality control procedures, if it wants to continue importing products to the US. The US agency told the company to hire an outside auditor to develop a Corrective Action Plan and respond to the warning letter within 15 days. According to the FDA, XiAn Libang did not conduct a thorough investigation after quality control problems were discovered last summer. More details...

TCT Medical Books $10 Million Investment from Fidelity Mar 11, 2010: TCT Medical Technology, a China medical device company that focuses on the OB/GYN market, has raised $10 million in new capital from two Fidelity funds. TCT claims to be the largest high-tech medical equipment and supplies importer in China within women’s health. It is the exclusive distributor in China of Cytyc’s ThinPrep pap test, the world’s leading cervical cancer screening product. More details...

Sundia MediTech Founder Receives “Entrepreneur of the Year” Award Mar 11, 2010: Xiaochuan Wang, PhD, a returnee who founded Shanghai’s CRO Sundia MediTech (桑迪亚医药技术（上海）有限公司) in 2004, was named the Asia-Pacific Entrepreneur of the Year by BioSpectrum. From its beginnings in 2004, Sundia has grown to an organization with 400 employees, including more than 300 scientists, which offers CRO services to over 90 customers from the US, Europe and Japan. More details...

EA Inc. Raises $6.6 Million from OrbiMed Mar 10, 2010: EA Inc., a company that makes invisible dental braces, completed a $6.6 million Series A financing led by OrbiMed, which provided “nearly all” of the funds, along with individual investors. OrbiMed characterized the financing as a restructuring of EA Inc. More details...

Lotus Pharma Breaks Ground on New Building Mar 10, 2010: Lotus Pharmaceuticals (路坦制药有限公司) has begun construction of nine-storey building complex that will provide offices, R&D, production, and storage. The new facility is being built on the grounds of its existing production facility in Beijing. More details...

Stock Symbol: (OTCBB: LTUS)

WuXi PharmaTech Reports Solid Performance in 2009 Mar 8, 2010: As expected, WuXi PharmaTech (药明康德) reported 2009 net revenues of $270 million, an increase of 7%. Net income climbed to $52.9 million compared to a loss of $64.2 million in 2008, when the company took a significant $49.3 million writedown of its US-based biologics manufacturing business, which was part of its AppTec acquisition. Revenues matched analysts’ expectations, while earnings were slightly below forecasts. More details...

Stock Symbol: (NYSE: WX)

SEED Competition for China Life Science Announces Finalists Mar 5, 2010: Fifteen entrepreneurs from a broad spectrum of life science fields were selected as Finalists in the SEED Competition, which makes them eligible to compete for the Grand Prize of 300,000 RMB ($45,000). The awards were made at the SEED Finalist Coaching Day event held in Shanghai’s Zhangjiang Hi-Tech Park earlier this week. Over 140 people attended the event. Roche, OrbiMed, and McKinsey organized the SEED competition, which was managed and presented by ChinaBio® Accelerator. More details...

Stock Symbol: (SW: ROG)