The Week in Review: China Spends $38 Billion on Healthcare in 1H of 2011

China’s central government spent $38.4 billion on healthcare in the first half of 2011, an increase of 61% from 2010; the SFDA has tightened up regulations on CMOs to thwart drug counterfeiting; Vasomedical purchased two of its China-based medical device suppliers; Simcere Pharma reported that Biqi, a generic anti-diarrhea drug, was given European marketing approval; Simcere was also granted SFDA approval for Iremod, a first-in-class treatment for rheumatoid arthritis; WuXi AppTec received a GLP certificate for its Bioanalytical Services (BAS) unit from European regulators; Life Technologies said its Q2 results took a 2% hit because the company is restructuring its China sales strategy; and Sinopharm reported 2011 first-half revenues climbed 48%, benefiting from the company’s massive acquisition program. More details…. Stock Symbols: (OTCPK: VASO) (NYSE: SCR) (NYSE: WX) (NSDQ: LIFE) (HK: 1099)