Week in Review: China Leads Global Pharma Innovation, Says Thomson Reuters

According to a Thomson Reuters report, China is the global leader of pharmaceutical innovation as measured in patent filings and scientific paper citations -- the report attributes China's success in part to the close ties between the government and private industry; Dr. Hua Mu of WuXi AppTec told ChinaBio® that WuXi considers partnerships an extension of its CRO service, helping pharmas bring their products to the China market; SciClone in-licensed China rights to a solid tumor cancer drug from Spain's AbilityPharma in a $20 million deal; Taiwan's ACT Genomics, which provides genomic profiles for personalized cancer care, completed a $12.5 million Series B funding; Harmony Biopharm of Hong Kong formed a JV with Dongbao Pharma to commercialize an inhaled insulin product in China; YiChang HEC Changjiang Pharma out-licensed US rights for a generic insulin product to Lannett Company of Philadelphia; Warburg Pincus, a US-based private equity firm, made an investment of undisclosed size in UIB, a chain of China hospitals; Hutchison China MediTech (Chi-Med) fully enrolled a China Phase III trial of fruquintinib as a treatment for colorectal cancer; CASI Pharma was approved to start a China arm of a US Phase II trial of its lead molecule in fibrolamellar carcinoma; and AliHealth will offer an updated, voluntary version of its drug tracking service this month. More details.... Stock Symbols: (NSDQ: SCLN) (HK: 1558) (NYSE: LCI) (AIM/NSDQ: HCM) (NSDQ: CASI) (HK: 0241)