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"Pharma in China Being Held to Higher Standard, Says Greg Scott, ChinaBio"
Week in Review: Suzhou Connect Biopharma In-Licenses Anti-Inflammatories from Arena
Deals and Transactions
Suzhou Connect Biopharmaceuticals, Ltd. gained control of two series of anti-inflammatory compounds from Arena Pharma (NSDQ: ARNA) of San Diego (see story). Zheng Wei, PhD, initiated development of the compounds while he was Director of Immunology at Arena, and he is now Co-founder and CEO of Suzhou Connect. Terms of the agreement were not disclosed.
Transgene (Euronext: TNG) of France and China’s Tasly Pharma (SHA: 600535) announced their JV will develop four biotech immunotherapeutic candidates for China (see story). The JV will be capitalized with $3.2 million from Transgene and $6.6 million from Tasly. The value of Transgene’s drug IP brings its investment in the 50:50 partnership up to equal Tasly’s. Transgene develops immunotherapeutic products aimed at cancer and infectious diseases.
SUMEC has landed the exclusive right to distribute Aurora Imaging Technology’s breast imaging machines in China (see story). SUMEC is a member of the China National Machinery Industry Corporation, a company known for ship building, though it also imports and exports technology. Aurora Imaging is a Massachusetts company that makes dedicated MRI 3D breast imaging equipment.
Fenwal Holdings, a US company with a China JV, has been bought by fellow medical equipment maker Fresenius (FEX: FME) for $1.1 billion. The deal includes a China JV that Fenwal established last year with Golden Meditech (HK: 801; TW: 910801) of Hong Kong (see story). The JV was set up to make and distribute blood collection equipment from Fenwal and Golden Meditech in China.
News and Analysis
Chronic disease – the kind of illnesses that are widely associated with western lifestyles – now constitute the latest challenge for China’s healthcare reforms (see story). Diabetes, heart disease, cancer – these long-term illnesses and their attendant costs are threatening to overwhelm China’s healthcare budget, according to government officials. Despite a three-year $125 billion investment in China's healthcare system., some measurements show that China’s populace is now sicker than ever.