The Asia Corner - From the Editors of PharmAsia News May 19, 2009
In this BioPharma Today feature, the editors of PharmAsia News take a closer look each week at the most important biopharma developments from China, India, Japan, and the Pacific Rim.
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The Asia Corner - From the Editors of PharmAsia News May 19, 2009
PERTH, Australia – In the Land Down Under, the country’s 2009-2010 federal budget delivered a mixed bag to pharmaceutical and biotech companies, with biotech companies praising the R&D tax credit and Big Pharma critical of cuts to the Pharmaceutical Benefits Scheme. R&D companies with a turnover of under AU$20 million will be eligible for a 45-percent refundable tax credit, which is a huge boost to struggling biotech firms, AusBiotech CEO Anna Lavelle said in an interview.
But the federal government's decision to cut its investment in the Pharmaceutical Benefits Scheme will undermine commercial certainty for Australia's pharmaceutical industry, Medicines Australia Chief Exec Ian Chalmers warned. The announcement of further savings measures in the federal budget will cost the pharma industry AU$175 million over five years, he said. Read more here.
China's Ministry Of Health announced that a national essential drug working committee has been formed to solve conflicts that arose while drafting the essential drug list, which was to be released at the end of April. The committee consists of directors from eight government agencies, including the Ministry of Health, the National Development and Reform Commission, the State FDA and the State Administration of Traditional Chinese Medicine.
The committee will now choose the drugs to make up the essential drug list and negotiate with different parties instead of the MOH to draft the list on its own and send to the State Council for approval. The essential drugs listed in China are those that are low in price, have a long history of use and have been proven to be safe and effective. The list will also include traditional Chinese medicines, which are an important part of China's drug development strategy, according to the director, who said TCMs will take up half of the list. Read more here.
In Japan, this week, Kyowa Hakko Kirin signed a licensing agreement with Sanofi-Aventis for worldwide co-development and marketing rights to its anti-LIGHT fully humanized monoclonal antibody, which is in preclinical development in Japan. Main therapy areas of focus are ulcerative colitis, Crohn's disease, rheumatoid arthritis and psoriasis.
Under the terms of the deal, Kyowa Hakko Kirin will receive up to $315 million, which includes an upfront contract fee and development milestones, as well as additional sales royalties. Sanofi will have exclusive rights to develop the product worldwide, except in Japan and other Asian countries, where both parties will co-develop the product. Read more here.
– Tamra Sami
The PharmAsia News team welcomes your feedback on stories we have covered as well as story ideas you would like to see. Email the editors at pharmasia@elsevier.com
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