The CFDA has issued the first set of new policies that are designed to reduce its very long waiting times in China for drug approvals; China’s drug sales will reach $150-$180 billion in 2020, a CAGR of 6-9%, according to IMS; Nantong Jinghua Pharma struck a $50 million deal for two anti-cancer mAbs from Kadmon Corporation of New York; Lee’s Pharma in-licensed Greater China rights to a potential liver cancer treatment from Tragara Pharma of San Diego: Tianjin Tasly and Taikang Life Insurance launched a $784 million China healthcare fund; LYFE Capital closed its first China healthcare fund at $298 million; Beijing’s BeiGene was given the 2015 R&D Achievement of the Year award by BayHelix; Fresenius Medical Care, a German renal care company, opened its new China Design Center in Shanghai; and the Shenzhen Cell Bank and Shenzhen (Beike) Regional Cell Preparation Center formed a cell therapy translation base with 11 Shenzhen hospitals.
