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China needs 30 times its outsourcing capacity to meet demand created by drug pricing reform, says Wuxi Biologics boss

China will need 30 times its current outsourced manufacturing capacity for biological drugs, according to Chris Chen Zhisheng, chief executive of Wuxi Biologics, its largest drugs development and manufacture outsourcing company.“Under the Chinese government’s recent drug pricing reform policies, aimed at driving generic drug makers to put more resources in innovative drugs development, outsourcing demand will rise,” Chen said on Tuesday. “China’s contract outsourcing market is only tiny partly… Source link

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Singapore 

Daughter of Hour Glass founders loses appeal, to start jail term for drug abuse next month, Singapore News

SINGAPORE – Audrey Tay May Li, 45, the daughter of the founders of luxury watch retailer Hour Glass, will start her jail sentence for drug abuse next month after her appeal was dismissed by the High Court on Friday (March 15). In October last year, Tay was sentenced to 22 months’ jail for repeatedly abusing drugs for two years. On one occasion, she had turned up intoxicated for a psychiatric assessment at the Institute of Mental Health. The former public relations consultant, who is divorced, was arrested in August 2015…

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How US drug regulator overruled inspector and let tainted pills from China be used by US patients

US regulators sent a stark warning to American consumers last year: a Chinese-made heart drug taken by millions of people was contaminated with a possible cancer-causing chemical. The Food and Drug Administration (FDA) oversaw a recall of the tainted pills. But even as it did so, the agency that helps safeguard a global supply chain of drugs was conducting fewer inspections of pharmaceutical plants in the country where the problem originated. Hundreds of sex and diet pills tainted with unapproved drugs, study shows Treatments made by Chinese companies now account…

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Online health care platform injects hope into generic drug makers squeezed by China’s pricing reform

Online health care platform operator 111 Inc plans to team up with generic drug makers that have failed to win public hospital tenders in a bid to help them survive by cutting distribution costs. A pricing reform introduced recently by Beijing led to an average 60 per cent fall in winning bid prices at last month’s pilot centralised bulk drugs procurement in 11 cities. This coupled with the stipulation that up to 70 per cent of the purchase volume be given to a single winner mean that the losers will…

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Singapore 

Drug user who drove into sea off Sentosa jailed and disqualified from driving, Singapore News

SINGAPORE – A drug user drove his multi-purpose vehicle (MPV) into the waters off Sentosa Cove in 2017 and had to be rescued. Lim Jin Ping, 37, admitted that he had smoked amphetamine every day in the week before the incident on Aug 25 that year. He was sentenced to 11 months and four weeks’ jail on Thursday (Jan 10). He was also disqualified from driving all classes of vehicles for two years. Lim pleaded guilty in November last year to two mischief charges as well as one count each…

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Singapore 

Hwa Chong Institution teacher faces drug charges including methamphetamine consumption, Singapore News

SINGAPORE – A Hwa Chong Institution (HCI) teacher appeared in court on Friday (Jan 4) to face drug-related charges including methamphetamine consumption. Briton Christopher David Burge, 65, was first charged on Sept 22 last year. He is accused of attempting to possess five packets of a crystalline substance between Sept 14 and 19 last year. They were later found to contain at least 3.6g of methamphetamine. The humanities teacher is also accused of consuming the drug on Sept 20 last year. He was allegedly found with drug paraphernalia including glass…

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China’s new drug procurement plan set to hit its pharma firms’ profit margins

China’s plan to drive down generic drug prices through a centralised bulk procurement programme is set to redraw the industry by forcing its thousands of small generic drug makers to streamline and consolidate after decades of enjoying outsized profit margins. “There won’t be a second act for traditional generic drug makers in China,” said Dai Ming, Shanghai-based fund manager at Hengsheng Asset Management. “In the past, there was hope that these companies would benefit from more government investment in health care due to the ageing population, but now these health…

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‘Painful’ consolidation ahead for China’s generic drug makers, as Beijing gets behind procurement revamp

Can Chinese generic drug makers remain profitable under Beijing’s new state procurement mechanism that has already led to a fall in average selling prices by more than half? Yes they can, according to analysts who say tender winners will be able to offset the impact of lower prices through savings made possible by bigger volumes and the elimination of hefty distribution costs under the current, distorted pricing mechanism. China’s pharma stocks plunge as new tender system slashes prices “Winning prices in this [new] round of centralised procurement are not the…

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Prosecutor of Huawei’s CFO counts 1MDB fugitive Jho Low and Mexican drug lord ‘El Chapo’ among his high-profile cases

The United States prosecutor who is seeking to extradite Huawei Technologies’ Chief Financial Officer Sabrina Meng Wanzhou is the same man pursuing criminal charges against fugitive financier Jho Low in the 1Malaysia Development Berhad scandal and Joaquín Guzmán Loera, the notorious Mexican drug kingpin known as “El Chapo.” Richard P. Donoghue was named US Attorney for the Eastern District of New York in January, returning to the office where he cut his teeth prosecuting members of the MS-13 street gang, white collar criminals and corrupt politicians. Since coming back, he…

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Hong Kong’s securities regulator orders Chinese drug company Hua Han to suspend trading

Hong Kong’s Securities and Futures Commission (SFC) has directed the city’s exchange to suspend all trading in the shares of Hua Han Health Industry Holdings, a Chinese pharmaceutical company, from Tuesday. Hua Han has halted its shares and debt securities from trading since September 27, 2016, pending releases of its financial results and the results of relevant investigation by auditors. Earlier this month, Hua Han said in a filing that the audit procedures for its annual results of 2015/2016 and 2016/2017 are still ongoing, while unaudited interim results for 2016/2017…

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