China Volume-Based Procurement (VBP) Policy
In 2018, China introduced VBP for pharmaceuticals, as an attempt to reduce the price of pharmaceuticals, and in 2019 introduced VBP for medical devices. Under VBP, Chinese Provinces tender out the supply of products on a large-scale. Procurement decisions have shifted from individual clinicians to hospital administrators. This has resulted in price cuts of 70 per cent and a shift in market share from Western manufacturers to Chinese manufacturers. Nevertheless, Western-made products are considered by Chinese consumers to be higher quality than Chinese-made products. Recently, some of the Chinese manufacturers are expanding sales into Asia-Pacific, with reported success in New Zealand.
China plus one
A consequence of the pandemic and closed borders, western companies are adding new manufacturing facilities in Vietnam or elsewhere, to supplement existing manufacturing in China.
Regional headquarters (RHQ) for multinational life sciences companies (MNCs)
Singapore is the favourite location for a RHQ for MNCs, ahead of its rivals in Hong Kong and Shanghai. 140,000 people left Hong Kong from 2020 to 2022, including many executives who relocated from Hong Kong to Singapore. More recently, with surging real estate costs in Singapore notably in the residential tenancy sector where rents have doubled in the last 1 to 2 years for expatriates, some corporates are looking to return to Hong Kong or relocate some of their staff back to the city.
Government support for R&D and medical research
Denne historien er fra BioSpectrum Asia Dec 2023-utgaven av BioSpectrum Asia.
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Denne historien er fra BioSpectrum Asia Dec 2023-utgaven av BioSpectrum Asia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Korea develops micro-structured artificial lung model using bioprinting technology
A team of Korean researchers has made a breakthrough that will greatly enhance the efficiency of respiratory disease research, garnering attention.
Philips names Ling Liu as Chief Region Leader of Greater China
Royal Philips, a global leader in health technology, has announced the appointment of Ling Liu as the Chief Region Leader of Philips Greater China.
PW Skills launches School of Healthcare to solve India's critical shortage of medical professionals
PW Skills, the upskilling vertical of Physics Wallah (PW) has announced the launch of School of Healthcare across five cities in India, namely, Noida, Indore, Lucknow, Patna and Delhi.
Australian biotech incubator Proto Axiom announces $20 M Series B first close
Proto Axiom, the Australian biomedical technology incubator, has announced a $20 million first close of its targeted $30 million Series B, to bolster Australia's biotechnology sector through increased intellectual property (IP) retention.
Biogen, Beckman Coulter and Fujirebio to develop new tests for tau pathology
Biogen Inc., Beckman Coulter, Inc. (both based in the US) and Japan-based Fujirebio have announced a collaboration to potentially identify and develop blood-based biomarkers for tau pathology in the brain and to potentially clinically advance and potentially commercialise new tests for tau pathology in Alzheimer’s disease (AD).
Pfizer upgrades pharma production plant in Melbourne
Australia is stepping up to the global fight against antimicrobial resistance, as Pfizer Australia announces a major upgrade to its manufacturing facility in Melbourne, Victoria.
mRNA as novel active ingredient - Plasmid Factory providing the template for tomorrow's vaccines
PlasmidFactory GmbH was founded in 2000 in Bielefeld/Germany with 4 employees. In the meantime, under the founder and managing director Dr. Martin Schleef, the company has become a well-known contract manufacturer (CDMO) for plasmid and minicircle DNA. Today, PlasmidFactory has ~50 highly qualified employees, and has established a GMP manufacturing facility.
"Our priorities will include identifying and understanding the challenges while engaging regularly with industry leaders to address their concerns"
K Raja Bhanu has been elevated from Executive Director to Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), effective July 1, 2024. Bhanu brings a wealth of experience from his distinguished career in drug control and regulation. He has a proven track record in advancing drug quality, safety, and regulatory compliance. His leadership at the Drug Control Administration (DCA) was marked by significant initiatives that enhanced drug regulation standards and reinforced India's pharmaceutical reputation globally. In his current role, Bhanu is set to drive the expansion of India's pharmaceutical exports, boost global competitiveness, and adeptly navigate the complexities of international regulations, leveraging his extensive expertise to foster industry growth and global prominence. In an interaction with BioSpectrum, he shared his plans on addressing many challenges before the Indian pharma industry to stay compliant with international regulations. Edited excerpts:
"Australia has long been a global leader in research, yet our biotech sector has not lived up to its full potential"
Australia's first true biotech incubator, Proto Axiom, has secured $20 million in the first close of its $30 million Series B round to strengthen the nation's biotech sector through greater IP retention. Anthony Liveris, CEO of Proto Axio discusses the incubator's selection criteria, identifying the most promising biotech trends for global health, and outlining the key strengths that make Australian biotech globally competitive. Edited excerpts:
Unleashing Innovative Wound Care Solutions
The incidence of wounds is rising, especially in the Asia-Pacific (APAC) region. In Australia alone, 420,000 individuals are impacted by chronic wounds, leading to direct healthcare costs of AUD $3 billion, representing 2 per cent of the country's total healthcare expenditure. Similarly, data from Singapore between 2000 and 2017 revealed that the incidence of wounds among hospitalised adults was 300 per 100,000 for those over 18 and 800 per 100,000 for those over 50. Let's explore further.