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Week in Review: Pfizer Building $350 Million China Biosimilar Facility

publication date: Jul 2, 2016
 | 
author/source: Richard Daverman, PhD

Deals and Financings

Pfizer (NYSE: PFE) started construction of a $350 million Global Biotechnology Center in Hangzhou (see story). The center, which will manufacture high-quality, affordable biosimilar drugs for China and the world, will also serve Pfizer's process development and clinical supply needs. Although Pfizer hasn't always been associated with biosimilars, its 2015 acquisition of generic drugmaker Hospira included a Remicade biosimilar that recently was approved for US use. To speed up construction of the Hangzhou plant, Pfizer will use GE Healthcare's (NYSE: GE) modular biologics system that is constructed in a German factory and assembled on site. 

China Resources Pharmaceutical Group, China's second largest pharma, filed for a Hong Kong IPO that will raise at least $1 billion (see story). It is planned for Q3 of this year. Based in Beijing, CR Pharma has a broad range of offerings in China and is also a major distributor of pharmaceuticals and general healthcare products. According to media reports, there are five China pharmas that are planning Hong Kong IPOs this year with an expected transaction total of $5 billion. Only Simcere Pharma, which was privatized from its US listing three years ago, was mentioned as part of that group. 

Allergan (NYSE: AGN), known for its Botox and ophthalmology products, is looking for deals in China and Asia (see story). The company wants to add growth products in its core specialties of medical aesthetics, dermatology and eye care, Allergan CEO Brent Saunders told Bloomberg in a Shanghai interview. Allergan has the money to spend: it is selling off $40 billion of generic drug assets to Teva (NYSE: TEVA), and will have $20 billion for IP, R&D assets and M&A, said Saunders. Previously, Allergan has formed at least one China deal: an NPS partnership with Rugen Therapeutics of Suzhou's BioBay Park. 

CoSci Med-Tech of Beijing led a $17 million Series A financing in JDP Therapeutics, a Pennsylvania company developing a novel injectable treatment for acute allergic reactions in the hospital market (see story). JDP is ready to start a Phase III trial of JDP-205. The company believes the funding will be enough to bring JDP-205 all the way through FDA approval. CoSci will develop the drug in China and other parts of Asia, though the terms of the agreement were not disclosed. 

Neusoft Holdings closed an investment from China Everbright's (HK: 165) RMB Mezzanine Fund, which it will use to make "significant strategic maneuvers" in its China healthcare operations (see story). Neusoft (SHA: 600718), a China IT company, is the parent of Neusoft Medical, a listed company that makes imaging systems. Neusoft also started Xikang, an internet healthcare operation. Xikang offers a cloud-based service that maintains medical records for an individual and connects them with regional hospitals and local clinics, or provides at-home monitoring. Everbright did not disclose the specific target for the investment. 

Yabao Pharma (SHA: 600351) formed a partnership with  LFB Biomedicaments, a state-owned French company, to bring LFB's albumin product Vialebex® to China (see story). Yabao will have an exclusive right to register Vialebex with the CFDA and commercialize the product, while LFB will supply product to Yabao. The companies pointed out that China is the world's biggest market for albumin. The terms of the agreement were not disclosed. 

Zhejiang Hisun Pharma (SHA: 600267) acquired China rights for a novel flu treatment from Japan's Fujifilm (see story). Hisun will develop, manufacture and market favipiravir in China. In return, Fujifilm will receive a lump-sum payment and royalties on sales, neither of which was disclosed. Two years ago, favipiravir was approved for use in Japan. It is thought to have efficacy against avian flu strains and Ebola, and could become an important drug should either one reach pandemic proportions. 

Jiangsu Egens Biotechnology in-licensed China rights to a hepatitis C diagnostic test from BATM (LSE: BVC), an Israeli networking technology company with a diagnostic subsidiary, Adaltis (see story). In 2014, Egens and Adaltis set up a China JV to import diagnostic products. The CFDA approved Adaltis' hepatitis C diagnostic in 2015, and the JV has contracted with Sinopharm to distribute the device in China. Egens says it combines biological material development, diagnostic reagent manufacturing and trade. 

Trials and Approvals

BeyondSpring Pharma, a virtual New York city biopharma, has launched a China-US Phase III clinical trial of its lead drug, plinabulin (see story). Plinabulin is a small-molecule infused drug that will be tested as an adjunct to docetaxel in patients with non-small cell lung cancer. According to BeyondSpring, plinabulin has dual anti-angiogenesis and immunotherapy mechanisms. The trial will enroll 550 patients: 440 in China and the rest in the US and Australia. Overall survival will be the primary endpoint. 

Disclosure: none.


 

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