Week in Review: BeiGene Co.,Ltd Out-Licenses Novel Cancer Drug to Merck Serono
Published: Nov 18, 2013
by Richard Daverman, PhD
November 16, 2013 -- BeiGene of Beijing out-licensed the ex-China rights for a novel cancer treatment, a PARP inhibitor, to Merck Serono for up to $232 million in milestones; PW Medtech Group, a Beijing medical device company, completed a $180 million IPO in Hong Kong; Shanghai Kinetic Medical acquired an 80% stake in Jiangsu Ideal Medical, a fellow orthopedic implant company, for $86.7 million; Medifocus, a US medical device company, will form a JV with Ideal Concept Group of Hong Kong to develop microwave-based medical devices in China; BGI Health of Shenzhen will form a genomics partnership with Sidra Medical of Qatar; China’s pharma output will grow 20.5% in 2013, reaching $372.6 billion, though profits are not keeping pace with revenues; Merck KGaA and Johnson & Johnson each announced they will build new manufacturing facilities in China; Lilly will spend $350 million in China to increase its production of insulin cartridges; and WuXi PharmaTech said its CMO subsidiary will produce commercial supplies of Imbruvica, a newly approved lymphoma treatment developed by Pharmacyclics. More details…..
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