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CONTENTHIGHLIGHTSJAPANBanned blood products distributed for ten years in Japan ................... 2
Government approves stem cell production for first time .................... 2
Hospitals to clamp down after run of fatal mistakes ........................... 3
Lung cancer deaths up sharply but other cancers drop ....................... 3
Ministry to abandon repeat tuberculosis shots ..................................... 4
Daiichi to work with whisky-maker on Alzheimers ............................ 4
Stock companies ousted from medical reforms ................................... 5
Yamanouchi seals three-year genomics deal ....................................... 5
Japan In Brief and share price movements ......................................... 6
CHINASIIC subsidiary listing masks stable profits in 2001 ............................. 7
HIFU knife finds its first overseas home in watershed export ............ 7
High leukemia drug prices costing lives, say doctors ........................... 8
Cosmetic surgery crackdown to take place this year .......................... 8
China In Brief ................................................................................... 8-9
SOUTHEASTASIASingapore: Parkway relaunches drive to buy up private clinics ......... 10
Singapore: Raffles slides into first ever loss ...................................... 10Thailand: launches ultra-cheap HIV cocktail ..................................... 11
Southeast Asia In Brief ..................................................................... 11
KOREAMedison plans full recovery within twelve months ............................ 12
Dong Wha puts great store by liver cancer therapy agent ................ 12
SK focuses on bioengineering as future profit driver ........................ 13
Korea In Brief ................................................................................... 13
INDIA
Nicholas Piramal in widespread biotech talks .................................... 14Medical sales reps confirm month-long strike ................................... 14
Cipla only Asian firm to make WHO list of AIDS drug suppliers ..... 14
WHO list of pre-qualified HIV/AIDS drugs...................................... 15
Lack of patent law a hindrance to foreign investment, says US ....... 16
India In Brief and Indian share price movements......................... 16-18
Conference calendar ..................................................................... 19-21
Companies, organizations and research centers in this issue ............. 22
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Banned blood products distributed for
ten years in Japan
The Japanese health ministry allegedly continued to
approve a blood product in the country for ten years
after it was banned in the US. The news is anotherunwelcome scandal for a ministry seemingly unable to
shake off a reputation for incompetence and inaction.
The US Food and Drug Administration moved in 1977
to revoke manufacturing approval for blood products
using fibrinogen. The substance had been used as a
blood clotting agent for nearly forty years but there
were concerns that it could cause widespread hepati-
tis C infection because of its use of pooled blood.
Fibrinogen-based products were produced in Japan by
Green Cross (now Mitsubishi Pharma), which had re-
ceived health ministry approval in 1964. However, even
after the US action, Japanese health officials did noth-
ing about Green Cross for a decade, finally requiring
the company to issue a recall only in 1987.
No knowledge
That is despite a health ministry official publishing a
report in 1979 which noted the FDA decision. At least
one official at the Health, Labor and Welfare Ministry
in charge of blood products is quoted as saying he knewnothing of the FDA decision until this month.
Government approves stem cell
production for first time
Japan will start producing stem cells for the first time
after approval by an expert committee of the Ministry
of Education on March 27th. The decision is a boost toJapans biomedical industry and to an extent overcomes
widespread concern, both nationally and globally, about
the ethics of stem cell research (see box).
The approval was granted to a specific proposal made
by Norio Nakatsuji, a professor at Kyoto Universitys
Institute for Frontier Medical Sciences. He intends to
use surplus frozen embryos produced by in-vitro ferti-
lization to generate stem cells and distribute them free
of charge to medical researchers with approval to use
them. The first cells should be ready by spring 2003.
His team has already accumulated basic data and ex-
perience by producing embryonic stem cells of mon-
keys and mice. The basement of their institute has been
converted to a clean room for cell production. A new,
high-security research center is to open soon. Two
hospitals have already agreed to provide embryos, al-
though it is unclear how many will be needed.
The expert committee has also received two applica-
tions for research using stem cells one by Kyoto
Universitys Prof Kazuwa Nakao to produce bloodvessels; and one by Shinshu Universitys Prof
Katsunori Sasaki to generate heart and liver cells. Both
are prepared to use imported stem cells but say do-
mestically-produced cells would widen their choice, as
all cells vary slightly.
Japan
ATAGLANCEFibrinogen and Hepatitis C scandal
1977 Fibrinogen products banned by the US FDA
1979 Japanese health ministry official notes the
FDA decision in a report, but no action taken
1987 Health ministry finally orders Green Cross torecall its fibrinogen products
Fibrinogen products were used on about 283,000
patients in Japan after 1980, and about 10,000 indi-
viduals are believed to have been infected with hepa-
titis C.
ATAGLANCEThe stem cell debate
The use of embryonic stem cells is controversial be-
cause extracting the cells kills a living human em-bryo. In the US, President Bush last summer de-
cided that federal funding would be permitted only
for stem cell cultures that already existed and were
made from embryos that were to be discarded by
fertility clinics. The aim was to prevent further kill-
ing for research purposes of other human embryos.
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Hospitals to clamp down after run of
fatal mistakes
Hospitals in Japan will be ordered to adopt safeguards
to cut down on fatal mistakes, according to a health
ministry directive that could be implemented in Octo-ber. If hospitals fail to comply, the government could
withhold some of their national health insurance pay-
ments. The move follows a series of mistakes by medi-
cal professionals leading to the deaths of patients, al-
though in many cases the health ministry itself has been
accused of laxness and negligence.
The basic safety guidelines are not new they are
already in place at the 80 hospitals affiliated with medi-
cal colleges, which were directed to implement the
measures by spring 2000. Another four special func-
tion hospitals have already implemented the require-
ments. However, under the new program, the Minis-
try of Health, Labor and Welfare will direct these
medical colleges and all 28,000 hospitals in Japan to
adopt an extended set of guidelines (see box).
Potential fines
Ministry officials say they hope the new requirements
will force the entire hospital to check and prevent ac-
cidents. In the past, medical errors have been dealt
with only at a departmental level.
Inspectors will visit the hospital to check that the di-
rectives are being met and that sufficient personnel
are employed to enable this. If the guidelines are being
infringed, ministry officials will be able to penalize the
hospitals by withholding payments from the national
health insurance program. Hospitals receive 8,000-
12,000 (US$60-90) daily from the health insurance
program for each inpatient. About 100 (US$0.75)
would be deducted per payment as a penalty.
Private protection
Private hospitals are to some extent shielded from the
changes. At present, only public hospitals are required
to file a report to the health ministry following a medi-
cal accident. That will not change under the new rules.
Lung cancer deaths up sharply but
other cancers drop
Lung cancer deaths rocketed in Japan from 1975-2000,
according to health ministry statistics. However, over-
all cancer deaths for men are down for the first time ina quarter of a century. The figures, released every
five years, show that the lung cancer death rate is up
65% for men, while in women it has risen 48%. Men
also saw a rise in deaths from esophageal, colon and
liver cancer. For women, the figures worsened for
colon, pancreatic and breast cancer. Suicide rates for
men rose, while those for women dropped.
Japan
ATAGLANCEProposed safety guidelines for hospitals
Hospitals must:
Write accident prevention guidelines to ensure thatmore than one medical caregiver confirms that
blood to be transfused into a patient is of the
proper type;
Set up internal reporting systems to study past
accidents and close calls to prevent recurrences;
Set up safety committees drawn from members
of various hospital departments; and
Implement training sessions for hospital staff to
heighten awareness of accident prevention mea-
sures.
Note: Japan has approximately 28,000 hospitals
Source: Japanese Ministry of Health, Labor and Welfare
ATAGLANCEDeath rates from lung cancer in Japan
(deaths per 100,000 people)
1975 2000 ChangeLung cancer - men 28.1 46.3 64.8%
Lung cancer - women 8.3 12.3 48.2%
Source: Japanese Ministry of Health, Labor and Welfare
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Ministry to abandon repeat
tuberculosis shots
The health ministry is to scrap repeat inoculations for
tuberculosis, instead requiring children to have just a
single injection. The ministry says repeat jabs are un-necessary and a single shot in early childhood is suffi-
cient.
Currently, children are given tuberculin tests at each
of three stages at age 4 or younger, in the first
grade and in the first year of junior high school. Au-
thorities are required by law to inject them with the
BCG vaccine, which is made from a weakened strain
of the TB bacillus, if they do not test positive for past
exposure to the bacillus. A child can receive up to five
shots under the system.
Japan lags behind
The proposed new rules will aim to ensure that infants
receive an inoculation and that children are brought in
for checkups at 18 months and at three years of age.
The World Health Organization said in 1995 there was
no proof that repeat injections of BCG had any posi-
tive effect, and recommended against the practice.
Japanese doctors had continued to insist that multiple
shots are necessary but their case has been under-mined by South Korea and Hong Kong, which abol-
ished repeat injections in 1997 and 2000 respectively
without any adverse consequences.
X-ray recommendation
The health ministry report also suggests that people
starting at new schools or workplaces should receive
chest X-rays, which can detect early signs of tubercu-
losis, between the ages of 15 and 39. Those aged 40
or over and anyone who comes into contact with TB
sufferers regularly should be X-rayed annually.
However, there is resistance to this proposal. About
25 million people receive chest X-rays each year, but
the method rarely finds new cases of tuberculosis and
there are concerns that the exposure to radiation may
be more of a risk than undetected TB.
Daiichi to work with whisky-maker
on Alzheimers
Daiichi Pharmaceutical says it will co-operate with
Suntory, a whisky producer which is moving into the
medical field, to develop a new drug to treat Alzheim-ers Disease.
The product, memantine hydrochloride, was developed
by German firm Merz and licensed to Suntory, which
has initiated Phase II trials in Japan for moderate to
severe Alzheimers. The agreement with Daiichi is to
develop a treatment for mild to moderate Alzheimers.
Suntory will apply for manufacturing approval while
Daiichi will take care of sales and marketing.
The NMDA touch
Memantine acts as an N-methyl-D-aspartate (NMDA)
receptor antagonist that blocks excessive glutamate.
Daiichi says that extensive preclinical and clinical stud-
ies suggest that it can slow the progression of the dis-
ease by protecting neurons from over stimulation by
glutamate. Most Alzheimers drugs in Japan are ace-
tylcholine esterase inhibitors.
Merz is also developing memantine in Europe and the
US via licensees. In February this year, the EU com-
mission received a recommendation from the Com-mittee of Proprietary Medicinal Products (CPMP) to
approve memantine for the treatment of moderately
severe to severe Alzheimers disease and the drug is
expected to be launched during the second half of this
year.
Japan
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Japan
JAPANINBRIEF
Accused settle and extend CJD compensationThe government, manufacturer B Braun Melsungen
and importer Nihon BSS have finally agreed to com-pensate all plaintiffs in the dura mater infection scan-
dal. The court had already ruled in favor of 20 plain-
tiffs who contracted Creutzfeld-Jakob Disease through
contaminated dura mater transplants, awarding them
1.16 billion (US$8.75 million). Another 21 plaintiffs
were excluded because they joined the lawsuit too late.
However, the defendants say they will offer the courts
recommended compensation to all parties. The case
has taken five years and four months to settle. Signing
the settlement document, health minister Chikara
Sakaguchi expressed his apologies the first verbal
apology given by the government over the matter.
Takeda sets up in IrelandTakeda Chemical is to build a Euro 80 million (US$70
million) bulk pharmaceutical plant in Ireland. The plant
will be its third in Europe but is the first to manufac-
ture bulk drugs outside Japan. The site will be near the
Irish capital, Dublin. The move is part of Takedas strat-
egy to target the European and US markets in the face
of stagnating demand at home.
Konica sets up medical unitKonica, Japans second-largest photographic film
maker, is to create a separate business unit for its
medical operations. The company, raising its profit
outlook on March 14th, said it is diversifying away from
camera film and into specialty films for liquid crystal
displays and medical equipment. It is therefore restruc-
turing into four business units: consumer imaging, medi-
cal and graphics, office documents and optical tech-
nology. The structure will take effect from March 2003.
Otsuka Pharma and Snow Brand join upOtsuka Pharmaceutical and Snow Brand Milk Prod-
ucts are to form a joint venture in the field of clinical
nutrition. The company will be held 60% by Otsuka,
which will also provide the president. The companies
already have an alliance in the clinical nutrition field
and have produced two enteral nutritional agents.
Stock companies ousted from medical
reforms
The Japanese cabinet was expected to adopt a re-
vised three-year deregulation plan on March 29th, as
Asian Medical Industry Newswent to press, aimingfor more competition in child and nursing care among
other sectors. However, controversial proposals to al-
low stock companies to run medical institutions will
not make the cut.
The government is still keen to attract private sector
involvement in medical service provision, but Liberal
Democrat party members were strongly opposed to
allowing stock companies to take full control of hospi-
tals. Lawmakers felt that financially weaker hospitals
would see a drop in the quality of healthcare provision
as private owners sought to balance the books.
The deregulation plan is a revised version of a three-
year program originally adopted in March 2001. It adds
several priority areas, such as agriculture, energy and
finance, on top of the existing six priority areas medi-
cal services, elderly and child care, employment, edu-
cation, environment and the urban revitalization.
Yamanouchi seals three-year
genomics deal
Yamanouchi Pharmaceutical has signed a three-year
collaborative research agreement with US bioventure
firm Metabolex for the development of genomic drugs.
The two companies aim to develop world-class treat-
ments for type 2 diabetes, insulin-resistant diabetes,
impaired glucose tolerance and obesity, while attempt-
ing to shorten the development period for such drugs.
The companies will use Metabolex database of genes
related to the development and progression of insulin-
resistant diabetes and obesity to identify and validatedrugs suitable against the illnesses. The two compa-
nies will verify disease-related functions of selected
targets using animal models and a proprietary gene
function assessment system, and Yamanouchi will ini-
tiate screening and identification of compounds that
work with the selected targets.
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Japan
Stock Core Price () Price change since Mkt Cap
Company Code Exchange business March 29 Issue 9 1/1/02 1/1/01 (US$mill)
Share price movements ranked by performance since Jan 1st
Ims HEALIms HEALIms HEALIms HEALIms HEALTH ESTIMTH ESTIMTH ESTIMTH ESTIMTH ESTIMAAAAATES THATES THATES THATES THATES THAT THE JapT THE JapT THE JapT THE JapT THE Japanese Panese Panese Panese Panese PHARMHARMHARMHARMHARMA MA MA MA MA MARKET INARKET INARKET INARKET INARKET IN
2002 WILL BE WORTH US$46 BILLION2002 WILL BE WORTH US$46 BILLION2002 WILL BE WORTH US$46 BILLION2002 WILL BE WORTH US$46 BILLION2002 WILL BE WORTH US$46 BILLION
TTTTTake a sliake a sliake a sliake a sliake a slice with Ace with Ace with Ace with Ace with Asian medsian medsian medsian medsian mediiiiical industrcal industrcal industrcal industrcal industry ney ney ney ney newswswswswswwwwwwwwwwwwwww.pr.pr.pr.pr.proooooooooof100.cf100.cf100.cf100.cf100.cooooommmmm
Toyama Chemical 4518 Tokyo Pharmaceuticals 530 -11.2% 29.3% 28.3% 600Tanabe Seiyaku 4508 Tokyo Pharmaceuticals 1,230 6.0% 5.3% 28.1% 2,461
Shimadzu 7701 Tokyo Medical devices 320 -3.9% 5.3% -16.4% 645
Azwell 9825 Osaka Wholesale 462 8.2% 5.0% -11.2% 314
SSP 4537 Tokyo Pharmaceuticals 962 -2.5% 1.8% 5.6% 882
Kaken Pharma 4521 Tokyo Pharmaceuticals 711 -4.4% -0.4% 12.3% 507
Ono Pharma 4528 Tokyo Pharmaceuticals 4,010 2.8% -1.0% -8.9% 3,717
Mochida Pharma 4534 Tokyo Pharmaceuticals 757 -4.5% -1.0% 7.7% 826
Suzuken 9987 Tokyo Wholesale 2,040 5.2% -1.4% -32.0% 1,197
Terumo Corp 4543 Tokyo Pharmaceuticals 1,660 -6.7% -2.2% -33.6% 2,643
Santen Pharma 4536 Tokyo Pharmaceuticals 1,452 -5.5% -2.6% -35.5% 1,016
Vital-Net (Sun-S) 9916 Tokyo Wholesale 725 -6.0% -3.3% -14.7% 229
Eisai 4523 Tokyo Pharmaceuticals 3,150 -3.4% -3.4% -21.3% 7,048
Chugai Pharma 4519 Tokyo Pharmaceuticals 1,456 -4.2% -4.1% -23.4% 2,770
Daiichi Pharma 4505 Tokyo Pharmaceuticals 2,415 -5.3% -5.3% -29.0% 5,223
Taisho Pharma 4535 Tokyo Pharmaceuticals 1,946 -5.1% -5.5% -37.0% 5,006
Dainippon Pharma 4506 Tokyo Pharmaceuticals 1,245 -5.8% -6.4% -34.1% 1,581
Kuraya Sanseido 7459 Tokyo Wholesale 521 -6.1% -6.5% -43.0% 538
Fujisawa Pharma 4511 Tokyo Pharmaceuticals 2,810 -9.9% -7.0% -25.7% 6,966
Yamanouchi Pharma 4503 Tokyo Pharmaceuticals 3,210 -10.8% -7.2% -35.0% 8,753
Hitachi Medical 6910 Tokyo Medical devices 1,096 -1.3% -8.3% -6.3% 327
Tsumura 4540 Tokyo Herbal medicine 410 -9.7% -9.9% 30.2% 217
Shionogi 4507 Tokyo Pharmaceuticals 1,990 -2.2% -11.2% -14.6% 5,232
Takeda Chemical 4502 Tokyo Pharmaceuticals 5,220 -4.7% -12.0% -22.8% 34,779
Mitsubishi Pharma 4509 Tokyo Pharmaceuticals 1,296 -15.3% -12.3% 44.0% 2,688
Olympus Optical 7733 Tokyo Medical devices 1,650 -0.7% -12.5% -16.5% 3,295
Sankyo 4501 Tokyo Pharmaceuticals 1,941 -1.7% -13.5% -29.2% 6,586
Banyu Pharma 4515 Tokyo Pharmaceuticals 1,665 -7.0% -14.6% -35.6% 3,316
Hisamitsu Pharma 4530 Tokyo Pharmaceuticals 1,501 0.3% -16.6% -24.3% 1,151
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ChinaThe future is technology
Newer areas the company is investigating include
telemedicine and biomedicine. In December 2000, the
firm bought 38% of Biolight, a maker of colposcopes
and patient monitors. In July 2001, SIIC purchased 11%
of E-COM Technology, which produces X-ray imaging,
storage and transmission systems.
On the research front, SIIC is developing a range of
new products, including: Ipraflavone for osteoporosis;
S-PPM for childhood asthma; B-TLS for liver disease;
and Anntiflu for treatment of influenza.
HIFU knife finds its first overseas
home in watershed export
The HIFU knife, an ultrasound knife developed and
manufactured in China, has been exported to its first
overseas buyer, in the UK. The High Intensity Focused
Ultrasound knife has been sold to the Churchill Hospi-
tal at Oxford University.
It is the first time that large medical equipment wholly
developed and manufactured in China has been ex-
ported to a foreign country, according to the People
Daily. The knife was developed by Chongqing Haifu
(HIFU) Technology and used for the first time in asurgical procedure in Chongqing in 1997.
The next overseas buyer has already been lined up
in Singapore and 15 hospitals within China have
purchased the HIFU knife.
SIIC subsidiary listing masks stable
profits in 2001
SIIC Medical Technology says profits trebled in the
year ended December 2001. However, the results in-
clude a one-off gain from the listing on the Shanghaistockmarket of a subsidiary excluding this, net profit
was rather more modest.
Total sales at SIIC Medtech Shanghai-based but
listed in Hong Kong came in at HK$723.9 million
(US$92.8 million), up 36% compared with the previ-
ous year. Net profit was HK$232.7 million
(US$29.8 million), but that included HK$155 million
(US$19.9 million) from the March 2001 listing of
Shanghai Jahwa, a producer of skin care products and
mosquito repellent.
SIIC says profit was held back by the end of a tax
holiday for one of its major subsidiaries, Chia Tai
Qingchunbao Pharmaceutical, whose tax rate jumped
from 12% to 24%. However, SIIC also cites a de-
pressed local and global economy, government reforms
and the entry of overseas firms into the domestic mar-
ket in the run-up to entry to the World Trade Organi-
zation.
Tender system to hurt prices
A major pricing concern, according to SIIC chairman
Lu Ming Fang, is the introduction by the government
of a centralized system of purchasing by tender. Lu
expects prices of pharmaceuticals to fall this year as a
result. However, non-pharmaceutical sales are not cov-
ered by the system and the company has therefore
increased the proportion of sales attributable to medi-
cal equipment to 36%, up from 15%.
The company is also increasing its focus on traditional
Chinese medicine (TCM) and has established a com-
mittee of 13 local and overseas experts to identify prod-uct and business opportunities. One of the first prod-
ucts being pushed is Ningxia Lycium, a wolfberry de-
rivative sold as an antioxidant. SIIC also bought a 24%
stake in TCM manufacturer Hangzhou Hu Xing Yu
Tang State Medicine at the end of last year.
ATAGLANCESIIC Medical Technology full year results
(US$mill) Full year ended
Dec 2001 Dec 2000 ChangeSales (HK$) 92.8 68.4 +35.6%
Net profit (HK$) 29.8 9.3 +221.8%
Net profit excl listing
of Shanghai Jahwa 9.9 9.3 +6.5%
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High leukemia drug prices costing
lives, say doctors
Physicians in China have warned that leukemia drugs
are so expensive that 92% of children with the disease
are not receiving adequate treatment. Speaking at theInternational Conference for the Cure of Childhood
Cancer in China, held in Shanghai this month, doctors
said that means almost 37,000 children are at risk every
year.
Treatment for leukemia in China costs around
Yuan 200,000 (US$24,150). That makes it unaffordable
for most people in rural areas, where medical staff
estimate that almost half of child sufferers dont com-
plete their treatment and half receive none at all. Much
of the blame is put on drug prices, although staff admit
that lack of access to medical technology or the skills
to use it is also a concern.
Cosmetic surgery crackdown to take
place this year
The Chinese government will clamp down on poor
quality cosmetic surgeries this year, after rising com-
plaints from customers. The one million or so beauty
parlors in the country often employ untrained staff inan effort to cut costs and meet demand.
The Ministry of Health has formulated new regula-
tions on cosmetic surgery that will come into effect on
May 1st. All places that want to offer cosmetic sur-
gery must have official licences and meet specified
Chinastandards for medical qualifications and equipment. The
ministrys position is that surgery such as breast im-
plants is different from common beauty care and should
only be done in clinics or hospitals however, other
facilities will be allowed to offer surgery as long as
they meet the minimum standards.
Wealth no good without beauty
Rising disposable incomes in China have led to a de-
mand for cosmetic surgery which has far outpaced
supply. Beijing has just four centers to serve ten mil-
lion residents. The plastic surgery clinic at Peking
Union Medical College receives more than 200 visi-
tors a day some ten times more than in 1998.
CHINAINBRIEF
Dubious drugs adverts to be tackled in 2002The State Administration for Industry and Commerce
says it will crack down on poor quality and misleading
pharmaceutical advertising this year, after a survey
showing that the number of misleading drug adverts
rose sharply in 2001. The Administration says it han-
dled 15,409 cases of misleading drug adverts last year,
up 10% on 2000. A new law was passed in December
giving the Administration the power to punish compa-
nies found to have misled the public.
Medical malpractice comes to the foreLegislators are urging hospitals to buy medical mal-
practice insurance for medical staff as law suits by
patients and relatives increase. Members of the Ninth
National Peoples Congress have suggested that an
insurance system would help both patients and doc-
tors, as it would encourage the latter to undertake riskier
ATAGLANCEWhen beauty surgery goes wrong
The government estimates that around 200,000 Chi-
nese citizens have been disfigured by poor quality
cosmetic surgery in the last ten years. There are
around one million beauty salons in the country.ATAGLANCE
Childhood leukemia in China
Leukemia is estimated to affect 40,000 children an-
nually in China. Doctors estimate that 92% of these
receive either incomplete treatment or no treatment
at all. The cure rate for childhood leukemia in west-
ern countries is approximately 80%, a level that someparts of China achieve but which most do not.
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procedures which could save lives with worrying about
legal action. The insurance industry, unsurprisingly,
backs the idea, but some doctors say the procedure
for assessing medical accidents should first be over-
hauled. Judgement is currently passed largely by doc-
tors, who are often seen as biased.
Nanyang joins national push for TCMThe city government of Nanyang in Henan Province
has launched a plan to turn traditional Chinese medi-
cine (TCM) into a modern industry. The city will es-
tablish a chain system integrating TCM education with
research, planting, processing, marketing and clinical
treatments, according to Party Secretary Ma Wangling.
The move is in line with a national initiative to promote
TCM by opening overseas clinics and encouraging
academic and commercial exchanges.
Asian biotech summit to be held in ChinaThe first Asian Biotech Summit will be held in Beijing
in June this year. Co-organized by the Pacific Rim
Forum and the China Council for the Promotion of In-ternational Trade, the summit will have about 500 par-
ticipants from the regions industries, institutions and
government bodies. Alan Carroll, executive chairman
of the Pacific Rim Forum, said the completion of the
sequencing of the human genome in early 2001 marked
a major watershed in the emergence of life science as
an industry. He expects a biotech boom in China as
the country has plenty of young scientists and the gov-
ernment is eager to develop science and technology.
China queues to sleepSome 10,000 residents of Beijing, Shanghai, Guangzhouand Hangzhou have signed up to take part in a world-
wide survey on sleep patterns. The Sleep Epidemiol-
ogy Survey,sponsored by the International Founda-
tion for Mental Health and Neuro-Science, will moni-
tor 50,000 people in around 20 countries. This is the
first time China has taken part in such a study, and the
response has been enthusiastic hundreds of people
in Shanghai queued to fill in the application forms. The
results will be published in the third quarter of this year.
Shenzhen cornea list growingMore than 100 people receive cornea transplants in
Shenzhen each year, but the waiting list is still increas-
ing by 60 people annually, according to a report in the
Shenzhen Commercial Daily. The newspaper says
that eye disease is common in the city because of poor
eye protection awareness. However, very few people
donate their eyes after death since June 1999, only14 people have donated their corneas. Sixty others have
registered to do so.
Ten-year wait for TCM book finally overChinas first comprehensive bibliography of traditional
Chinese medicine and pharmacology has been com-
pleted. The Dictionary of Traditional Chinese Medical
Books and Records, published by the Shanghai Sci-
ence and Technology Press, lists more than 23,000
books and records on traditional Chinese medicine and
pharmacology written from the pre-Qin Dynasty (2,000
years ago) to the end of the 20th century. The five-million-character dictionary, which lists both domestic
books and rare ones kept overseas, took more than
300 medical experts over ten years to compile. Ex-
perts say it will be invaluable to the research and
development of traditional Chinese medicine.
China
ATAGLANCEThe home of traditional Chinese medicine
Nanyang was the home of Zhang Zhongjing, the East-
ern Han Dynasty (AD 25-220) scholar who is con-
sidered the father of traditional Chinese medicine.
ATAGLANCEInsomnia in China and around the world
The China Medical Association estimates that around
300 million Chinese adults have sleep problems,
mostly in economically developed areas. A survey in
Shanghai suggests that the number of insomnia pa-
tients increased 20% in the first two months of this
year, compared with the same period last year. Half
of those sufferers were aged 31-51 years.
The World Health Organization (WHO) estimates
sleep disorders affect 27% of the world population.
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Parkway relaunches drive to buy up
private clinics
Singaporean healthcare provider Parkway Holdings is
to attempt another acquisition spree to grow its clinic
business three years after the collapse of its planto set up 40 clinics with Guardian Pharmacy, accord-
ing to theBusiness Times. The newspaper says about
50 general practitioner (GP) clinics were approached
five months ago by negotiator OCBC to sell their prac-
tices to a well-established locally listed healthcare
provider.
Parkway is reported to have been prepared to pay eight
to nine times the annual revenue of the clinics. How-
ever, it was payable only in stock options one rea-
son that around half declined. There were also con-
cerns about becoming an employee of Parkway rather
than remaining independent.
Which came first?
The company declined to comment on the report, but
a source says the GPs themselves probably formed a
group and approached Parkway about a buyout. The
source also suggests that while eight to nine times earn-
ings would be acceptable for a stock buyout, the firm
would only pay around five times in a cash deal.
Analysts believe Parkway is interested in diversifying
its healthcare strategy and is therefore still in talks.
The company has 19 GP clinics branded as Shenton
including eight in the central business district in
a sector it believes is ripe for expansion.
Hospital squeeze
Meanwhile, its three hospitals in Singapore Mount
Elizabeth, Gleneagles and East Shore are seeing
profit margins squeezed because of health reforms and
the weak economy. The three accounted for 62% ofthe groups revenues of S$354.5 million (US$192.7 mil-
lion) for the year ended December 2001. Operating
margins at the hospitals slipped from 32.4% in 2000 to
31.2% last year.
In March 1999, Parkway tried to boost its share of the
GP market by tying up with Guardian Pharmacy. The
goal then was to set up 40 GP clinics under the Shenton
name over five years, but only one clinic has been es-
tablished. It is a tough market: rival provider Raffles
Medical has 60 clinics in Singapore; government poly-
clinics have started night operations; and there are
hundreds of neighbourhood GPs.
Raffles slides into first ever loss on
property provisions
Singapores Raffles Medical Group (RMG) has re-
ported a S$8.7 million (US$4.7 million) loss for the year
ended December 31st the first loss in its 26-year
history. Raffles Hospital, in its first year of operation,
contributed about S$27 million (US$14.7 million) to
sales and helped boost turnover by 22%, but also con-
tributed S$5.7 million (US$3.1 million) to the overall
loss.
RMGs strategy of using its 65 clinics to refer patients
to its hospital seems to have worked, with about a third
of the hospitals revenue coming from such referrals.
The occupancy rate of the 100 operational beds was
40%; 200 beds are expected to be in operation by the
end of the year. The capacity is 380 beds. Chairman
Loo Choon Yong says beds will be opened according
to demand.
Exceptional losses and property provisions dragged
RMGs performance into the red. It wrote off
S$700,000 (US$380,000) in healthcare IT firm Dr
World and S$1 million (US$543 million) for some of its
clinic properties. The company expects things to im-
prove this year and says it is looking for acquisitions
and investments. Targets include a medical centre or
a chain of clinics.
Southeast Asia
ATAGLANCE
Raffles Medical Group full year results
(US$mill) Full year endedDec 2001 Dec 2000 Change
Sales (HK$) 41.7 34.1 +22.1%
Net profit (HK$) (4.7) 2.9 n/a
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Southeast Asia
Thailand launches ultra-cheap HIV
cocktail
Thailand will this month start marketing what may be
the worlds cheapest cocktail of anti-HIV drugs. The
Government Pharmaceutical Organisation (GPO) hasmanufactured the treatment, GPO-Vir, which will sell
for just US$0.45 per pill, or US$27 per month. The
current average cost of anti-HIV drugs is around
US$114 per month.
GPO-Vir is a combination of the anti-retrovirals
nevirapine (Boehringer Ingelheim), stavudine (Bristol-
Myers Squibb) and lamivudine (GlaxoSmithKline),
which slow the replication of the virus and so improve
patient health. GPO, which will hold a ten-year patent
on the pill, says it has already produced 120,000 pills.
The manufacturers of the three individual drugs do not
hold patents in Thailand.
Market gap
The move makes Thailand the second country, after
India (where it was produced by Cipla), to make a
generic form of the cocktail. It is significant because
under the World Trade Organizations TRIPS agree-
ment, revised in November, other developing countries
may be able to import the pill from Thailand.
TRIPS allows any country suffering a health emer-
gency to issue a compulsory license allowing it to pro-
duce or import cheap generic drugs. The November
declaration mentioned HIV/AIDS as a disease which
could fall into the category of health emergency (see
Issue 3, pp 2-3).
Lobby groups for cheaper HIV medicines in the de-
veloping world have welcomed the move. Medecins
Sans Frontieres also noted that the three-drug cocktail
has never been commercially produced in the west,
despite a proven efficacy, because the three patentholders could not agree how to divide the profits.
SOUTHEASTASIAINBRIEF
Pfizer joins in for record fake Viagra haulThai police have seized 100,000 fake Viagra pills in
the biggest haul of its kind in the country. US multina-tional Pfizer, Viagras manufacturer, helped with the
investigation and actually accompanied police on the
three raids on the outskirts of Bangkok. The gang
three Turks and one Thai had taken orders for the
erectile dysfunction drug via the Internet, which the
police used to trace them. The fake pills were a com-
bination of diluted genuine Viagra and tapioca starch.
They had a production cost of less than 20 baht
(US$0.46) per pill, but were sold for 20 times that.
Indonesia stresses plans for state drug firmsIndonesias State Enterprises Minister has reiterated
the governments intention to accelerate the sale of
state assets this year, including two nationalized drug
firms. Speaking at an investment conference in Hong
Kong, Laksamana Sukardi noted that the governments
policy is to speed the sale of stakes in highly-com-
petitive industries. That includes Indonesias largest
drugs firm, Indofarma, in which a minority stake is to
be sold contrary to earlier reports that 51% would
be disposed of (see Issue 8, p 10).Laksamana told
reporters that Kimia Farma would be disposed of byyear end. Indonesia has the worlds fourth-biggest
population, with 200 million people.
Siemens ties up with Medical OnlineMalaysias Medical Online and Siemens Malaysia have
signed a memorandum of understanding to improve
access to the countrys trauma care system. The deal
use Siemens technology and expertize to build on Medi-
cal Onlines RM100 million (US$26.3 million) telehealth
project. The service is expected to be available by the
end of the year.
ATAGLANCEInjury and trauma kill around 6,000 Malaysians every
year, with two-thirds of fatalities aged 12-40 years.
ATAGLANCEThailand is estimated by the United Nations to have
700,000 sufferers of HIV/AIDS.
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Medison plans full recovery within
twelve months
Medison, Koreas highest-profile and former flagship
medical equipment manufacturer, says it will be back
on its feet within a year after being approved for bank-ruptcy protection. The firm, which collapsed in Janu-
ary with debts of around US$300 million (see Issue 7,
pp 11-12), was granted court receivership by the
Chuncheon District Court on March 21st.
Maintaining value
The decision was expected, as even following a steep
fall in its share price, Medison is still valued at around
Won 256 billion (US$194 million), substantially above
its asset value of Won 183 billion (US$138 million).
The company has a 63% share of the Won 100 billion
(US$76 million) domestic ultrasound market and claims
to be the world leader for gynecological ultrasound,
with a 30% share of the global market.
Medison also accounts for half of Koreas exports of
high-tech medical equipment including providing
most of Dutch company Philips low-end scanners
and local manufacturers have suggested this is reason
enough to protect it from full bankruptcy.
That is essentially why court receivership was so vitalfor the companys survival. Under Korean law, a court-
appointed administrator will now reorganize the firms
financial management and decision-making procedures
and decide how best to reimburse creditors. However,
the intention is where possible to maintain the firm as
an ongoing business. Most manufacturing and trading
operations continue as normal in the interim, which
leaves Medison the chance to regain its focus on its
core competency ultrasound.
Overseas talks
However, there is no doubt that the company urgently
needs fresh funds to pay off creditors and roll out new
technology, primarily a 3D ultrasound scanner planned
for the end of the year. The cash will largely come
from asset sales, although all but six of the 40 or so
non-core affiliate companies in which it so heavily in-
vested at its peak have been cut out. CEO Lee Seung-
woo says he expects to be able to rely on profits as
well and claims that all loans, including interest, will be
paid by 2011.
Lee also says he is in talks with overseas players which
could lead to strategic alliances and cash injections.
Earlier rumors had centred on a deal with Philips, Sie-
mens or General Electric, but Lee has declined to name
names. He adds that a deal with a Korean firm is not
out of the question. Medison halted its arrangements
with overseas distribution partners when it collapsed
but will now attempt to restart those.
Medison shares were suspended when it defaulted on
its debt but resumed trading on January 31st, since
when they have fallen by half.
Dong Wha puts great store by liver
cancer therapy agent
Milican Inj, a radioactive treatment for liver cancer
manufactured by Dong Wha Pharmaceutical, has been
selected as one of Koreas Ten Best New Technolo-
gies of 2001, according to the company. The award
has increased Dong Whas determination to push the
product globally and turn it in to one of its leading rev-
enue generators over the next few years.
Standing for miracle liver cancer injection, Milican
Inj is an injectable isotope a complex of 166 Hol-
mium and chitosan which radiates beta-rays to treat
cancer cells selectively. It changes to a colloidal gel in
the tumor lesion and the 166 Holmium kills the cancer
Korea
ATAGLANCEMedison financial results
(US$mill) Year endedDec 2000
Sales 156.9
Net profit (88.3)
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cells. The lesion can be treated by a single intramural
injection.
Dong Wha describes the product as the worlds first
radioactive medication for liver cancer treatment and
an ideal substitute for surgery. It claims a 77.7% effi-
cacy rate and a response rate of 87.3%. Domestic
sales are forecast to reach Won 3 billion (US$2.3 mil-
lion) in 2002, even though Milican Inj will not be put
onto the market until August. Turnover is targeted at
Won 10 billion (US$7.6 million) annually by 2006.
Courting royalties
The company says the technology will also be exported
to China for liver cancer treatment and to the Eu-
ropean Union and the US for the treatment of prostate
cancer and rheumatoid arthritis. It is registered for li-cense in Korea, the US and Japan and has applica-
tions pending in Europe and China. Royalties are fore-
cast at US$50 million upfront for the technology li-
cense and US$5 million annually thereafter.
SK focuses on bioengineering as
future profit driver
SK Group, Koreas third largest business conglomer-
ate is building up investment plans for its bioengineer-
ing division, according to The Digital Chosun. Thecompany expects to expand its original investments
and accelerate its investment schedule to become the
countrys industry leader.
Sales by the bioengineering operations are reported to
have reached Won 100 billion (US$75.6 million) last
year for the first time ever, encouraging the group to
move its investment timetable up six months. SK also
plans to increase its Won 200 billion (US$151.3 mil-
lion) annual investment plan for the field.
Push for the top
The groups four bioengineering-related subsidiaries
include SK Corp and SK Chemical, involved in R&D,
and SK Pharmaceutical and Dongshin Pharmaceuti-
cal, in charge of production and marketing. SK Chemi-
cal recently launched a medical drug operation in a bid
to become one of the top ten pharmaceutical compa-
nies in the country.
SK also says that China will become the groups core
production outpost for its bio-engineering operations,
adding that it has recently decided to make investmentsin Chinese herbal medicine. The group recently started
construction of a bioengineering R&D institute in
Shanghai, investing a total of Won 10 billion
(US$7.6 million).
KOREAINBRIEF
Morning after pill hits Korea at lastDistributor Hyundai Pharm has introduced the emer-
gency contraceptive pill NorLevo to Korea. The prod-uct prevents pregnancy if taken twice in 72 hours af-
ter unprotected intercourse and is now available at phar-
macies with a doctors prescription. NorLevo is pro-
duced by HRA Pharma of France. The pill has been
the source of much debate in Korea which has de-
layed its arrival Hyundai applied for domestic sales
approval in May 2001.
National Health Service ready to cut demandThe Korean National Health Service has published
guidelines for reform which outline its plans to tighten
its administrative controls. Under new president LeeSang-yong, the NHS aims to revamp its controls to cut
down on claims for unnecessary medical treatment.
This includes a campaign to induce healthcare provid-
ers to give receipts, preferably by legislation, and a
push to boost collection of insurance fees to 100%.
ATAGLANCESIIC Medical Technology full year results
(US$mill) Full year endedMar 2001 Mar 2000 Change
Sales 95.6 104.6 -8.5%
Net profit 3.1 (5.8) n/a
Korea
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Nicholas Piramal in widespread
biotech talks
Nicholas Piramal (NPIL) is reported to be talking to
Italian firm Chiesi Pharmaceutical to import curosur, a
biotech drug for premature babies, and could also bringin peg interferon, a biotech drug for cancer, by enter-
ing into a licensing and marketing deal with Roche Phar-
maceutical. NPIL already markets Roches Roferon
A, an older version of peg interferon.
The two deals are part of NPILs drive to expand its
Rs 500 million (US$10.2 million) biotech operation. It
is also involved in discussions with several other firms,
reportedly in the market for critical care medicine.
NPIL says it is not looking for equity deals, but will
focus on co-licensing for the Indian market. The com-
pany already has 50:50 joint venture with US-based
Cytran to develop new molecules for sale in India.
Medical sales reps confirm month-
long strike
The Federation of Medical and Sales Representatives
Association of India (FMRAI) says it will conduct a
month long nationwide relay strike starting April 9th.
The organization is upset about the impact of globali-
zation and has issued a list of 27 complaints.
FMRAI vice-president J S Mazumdar says the com-
plaints include drug pricing, commercialization of the
health care system, the growing dependence on im-
ports, large-scale black marketing by pharmaceutical
companies for tax evasion and the entry of spurious
medicines into the market.
The strike will take the form of a continuous series of
three-day strikes by medical sales representatives in
individual states. The disruption will last one month in
total. The FMRAI will also support a strike by publicsector employees on April 2nd.
Mazumdar alleges that some companies sell up to 25%
of their medicines worth a total of Rs 20 billion
(US$410 million) on the black market to evade taxes.
He also accuses politicians and police of being involved.
Cipla only Asian company to make
WHO list of AIDS drug suppliers
Cipla has become the only Asian drug manufacturer
to be listed by the World Health Organization as a rec-
ommended provider of HIV/AIDS drugs for poor coun-tries. The list (see page 15)was published on March
20th as part of a project by the WHO, the UN,
UNAIDS, Unicef and the World Bank.
The idea of the move is that international research-
based companies and alternative generic suppliers can
be assessed to the same standards, thereby helping
governments and international agencies to procure
quality products at competitive prices.
The 40 recommended drugs include 11 antiretrovirals
and five drugs for opportunistic infections, from eight
branded and generic manufacturers. Ten of the drugs
come from Cipla, which produces nevirapine,
zidovudine (AZT), and lamivudine (3TC) one of
the most common cocktails of AIDS drugs.
Far from perfect
The list, which will be updated regularly, is not meant
to be definitive, and indeed holes have already been
picked in it. Although Cipla was the only Asian firm
mentioned, HIV/AIDS drugs are also manufacturedby companies such as Aurobindo Pharma, Ranbaxy
Laboratories and Hetero. One issue is that these com-
panies manufacture products which have no equiva-
lent in the west.
The list also includes Ciplas generic version of aciclovir
cream, even though the WHOs own guidelines for
the management of sexually transmitted infections state
that topical therapy [of herpes] with aciclovir pro-
duces only minimal shortening of the duration of symp-
tomatic episodes and is not recommended.
Although not mentioned as an intended aim, commen-
tators have also suggested that the list may intensify
price pressure on multinational drug manufacturers.
These companies are already facing calls from suf-
ferers and politicians to drop the prices of products to
levels which poor countries can more easily afford.
India
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India
ATAGLANCEWHO list of pre-qualified HIV/AIDS drugs
Name Strength Form Supplier Manufacturing site
Abacavir 300mg Tablet GlaxoSmithKline GSK, Ware, Hertfordshire, UKAbacavir 20mg/ml Oral solution GlaxoSmithKline GSK, Speke, Liverpool, UK
Aciclovir 5% Cream Cipla Patalganga, India
Amprenavir 15mg/ml Oral solution GlaxoSmithKline GSK, Speke, Liverpool, UK
Amprenavir 50/150mg Capsule GlaxoSmithKline RP Scherer, Beinheim, France
Ciprofloxacin 750mg Tablet Laboratorios Cinfa Navara, Spain
Ciprofloxacin 500mg Tablet Laboratorios Cinfa Navara, Spain
Ciprofloxacin 250mg Tablet Laboratorios Cinfa. Navara, Spain
Ciprofloxacin 100mg Tablet Cipla Kurkumbh, India
Ciprofloxacin 250mg Tablet Cipla Kurkumbh, India
Ciprofloxacin 500mg Tablet Cipla Kurkumbh, India
Ciprofloxacin 750mg Tablet Cipla Kurkumbh, India
Didanosine 25mg Tablet Bristol-Myers Squibb Meymac, France
Didanosine 50mg Tablet Bristol-Myers Squibb Meymac, FranceDidanosine 100mg Tablet Bristol-Myers Squibb Meymac, France
Didanosine 150mg Tablet Bristol-Myers Squibb Meymac, France
Didanosine 200mg Tablet Bristol-Myers Squibb Meymac, France
Lamivudine 50mg/5 Solution Cipla Vikhroli, India
Lamivudine 150mg Tablet GlaxoSmithKline GSK, Ware, Hertfordshire, UK
Lamivudine 10mg/ml Oral Solution GlaxoSmithKline GSK, Speke, Liverpool, UK
Lamivudine/Zidovudine 150/300mg Tablet GlaxoSmithKline GSK, Ware, Hertfordshire, UK
Lamivudine/Zidovudine/Abacavir 150/300/300mg Tablet GlaxoSmithKline GSK, Ware, Hertfordshire
Nevirapine 200mg Tablet Cipla Vikhroli, India
Ritonavir 100mg Capsule Abbott Laboratories RP Scherer, Florida, US
Beinheim, France
Ritonavir 80mg/ml Oral solution Abbott Laboratories Queensborough, Kent, UK
Ritonavir/Llopinavir 33,3mg + 133,3 Capsule Abbott Laboratories RP Scherer, Florida, USRitonavir+lopinavir 20mg + 80mg/ml Oral solution Abbott Laboratories Queensborough, Kent, UK
Saquinavir 200 mg Soft capsule Roche R.P.Scherer, Baden, Germany
Stavudine 15mg Capsule Bristol-Myers Squibb Meymac, France
Stavudine 20mg Capsule Bristol-Myers Squibb Meymac, France
Stavudine 30mg Capsule Bristol-Myers Squibb Meymac, France
Stavudine 40mg Capsule Bristol-Myers Squibb Meymac, France
Sulfadiazine 500mg Tablet Doms Recordati Parc Mecatronic, France
Vinblastine sulfate 10mg/10ml Injection Cipla Kurkumbh, India
Vincristine sulfate 1mg/ml Injection Cipla Kurkumbh, India
Zalcitabine 0.375 mg Tablet Roche Roche, New Jersey, US
Basle, Switzerland
Zalcitabine 0.75 mg Tablet Roche Roche , New Jersey, US
Zidovudine 100mg Capsule Combino Pharm Finaf 92, Gorgs y Llad,
Barabara del Valles or Medea,
Santa Carolina, Barcelona
Zidovudine 50mg/5 Solution Cipla Vikhroli, India
Zidovudine 10mg/ml Infusion GlaxoSmithKline Catalytica, Greenville, US
Zidovudine 50mg/5ml Oral solution GlaxoSmithKline Wellcome, Dartford, Kent, UK
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India
Lack of patent law a hindrance to
foreign investment, says US
India needs to introduce a proper product patent law
consistent with WTO regulations if it wants to encour-
age serious levels of foreign investment, according toa representative of the US. Speaking at a seminar on
March 15th, the US Ambassador to India, RD
Blackwill, noted that delays in passing legislation on
patents are to the detriment of scientists involved in
original research
Pilfered IP
Blackwill pointed out that Indian intellectual capital
produced by scientists, research institutes and leading
pharmaceutical and biotechnology firms remains sti-
fled, underutilized or could be pilfered. He said the
US would like to assist India in processing the esti-
mated 30,000 pending patent applications.
He also hoped that increased spending on research
will result in a boost to the pace of study and innova-
tion in Indias public-sector laboratories. He urged tech-
nology experts to identify and evaluate inventions in
the laboratory and file a timely patent.
INDIAINBRIEF
Ranbaxy to boost Asian researchRanbaxy Laboratories is to set up 11 new research
centers across India, doubling its current research base,
and move into China for the first time. The expansion
aims to increase the number of facilities available for
clinical trials in the worlds two most-populous coun-
tries. It can be also seen as an attempt to establish
itself in China as that market opens up. Rival Dr
Reddys is already reported to be in talks with the Ex-
port Import Bank of India about financing for a Chi-
nese expansion (see Issue 4, p 8).
Ranbaxys Midazolam approved in USRanbaxy Pharmaceutical, the US subsidiary of the
Ranbaxy Laboratories, has received FDA approval to
market its Midazolam Hydrochloride syrup. The com-
pany says the product has been deemed equivalent to
Roches Versed Syrup and will be launched before May
15th. Midazolam Syrup is indicated for use in paediat-
ric patients for sedation, anxiolysis and amnesia under
a monitored environment.
Knoll profits on the upKnoll Pharmaceuticals has posted a net profit of
Rs 141 million (US$2.9 million) for the quarter ended
February 28th, 2002 compared to Rs 92 million
(US$1.9 million) in the quarter ended March 31st, 2001.
Income increased from Rs 838 million (US$17.2 mil-
lion) to Rs 850 million (US$17.4 million). The com-
pany has changed its accounting year end from De-
cember 31st to November 30th, so the two quarters
are not directly comparable.
Dr Reddys launches BicalutamideDr Reddys Laboratories has launched Tabi
(Bicalutamide ) for the treatment of advanced pros-
tate cancer. The company is the first to launch the
drug in India. The product will be available as a 50mg
tablet. Dr Reddys says that with a global market share
of over 50%, Bicalutamide is the worlds leading anti-
androgen therapy for the treatment of advanced pros-
tate cancer.
Ministry writes off HAL interestIndias Ministry of Chemicals and Fertilizers has de-
cided to write off all of the interest dues which have
accumulated on Hindustan Antibiotics (HAL) since the
organization was set up with a government loan in 1972.
The decision, at a cost of Rs 550 million (US$11.3 mil-
lion), allows the Ministry to push ahead with its plans
to invite private bidders for the ailing company (see
Issue 3, p 13).
Sun Pharma changes research plansSun Pharmaceuticals has dropped plans to build a re-
search and development center in Chennai, citinglogistical and convenience reasons. The company
will, however, spend Rs 400 million (US$8.2 million)
on new chemical entities and a Novel Drug Delivery
Systems research campus in Baroda. The research
will focus on three therapeutic areas but Sun declined
to identify what these would be.
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Health Ministry wants animal experimentsThe Health Ministry says that current restrictions on
the use of animals in laboratories has brought medical
research in India to a standstill, and intends to push for
a more liberal policy. Health minister CPO Thakur says
he has already mentioned it to the Prime Minister and
will soon bring it up formally. The minister for animal
welfare, Maneka Gandhi, says there is no intention to
prevent valid medical experiments; however, scientists
say that obtaining the necessary permits is so cumber-
some it is barely worthwhile.
India to bar HIV sufferers?India is to reported to be considering banning foreign
sufferers of HIV/AIDS from entry to the country. The
Hong Kong-based South China Morning Post quotes
Indian Health and Family Welfare Minister CP Thakur
as saying that visitors will have to produce medicalrecords stating that they are not infected with the vi-
rus. If they are HIV-positive, they will not be allowed
to travel in the country. Testing is being justified on the
grounds that contacts with foreigners are responsible
for the sharp rise in HIV cases in India. The ministry
can pass the law without parliamentary approval.
India/Pakistan
Pakistan approves 3% price rise for
drug and suture importers
The government has agreed to allow importers and
producer of pharmaceuticals and sutures a 3% increase
on the prices of 821 medicines used for treatment ofmajor ailments. The increase comes in addition to the
15% sales tax which was added to drugs last month.
Manufacturers and importers are required to infiorm
the Ministry of Health of their retail prices.
ATAGLANCEDrugs and supplies covered by 3% price increase
General anaesthetics (five injections); anti-diabetics, in-
sulin (38 tablets, injections and syrups); antibiotics and
steroid combinations, anti-infective agents, non-steroidalanti-allergies/decongestants, miotics and anti-glaucoma
drugs (58 tablets, injections and syrups); anti-bacterial
(213 capsules, tablets, injections and syrups); analgesics,
anti-pyretic, NSAIDs and anti-gouts (38 tablets, injections
and capsules); anti-allergics (17 tablets, injections and
syrups); anti-epileptics and anti-convulsants (19 tablets,
injections and syrups); anti-infectives, amoebicides and
anti-diarrhoeals (11 tablets, injections and syrups); anti-
tuberculosis (13 capsules, tablets, injections and syrups);
anti-virals (2 tablets and suspensions); anti-fungal and
other dermatological (20 tablets, injections and syrups);
anti-malarials (11 tablets, injections and syrups); anti-mi-
graine; anti-helmintics (7 tablets, injections and syrups);anti-Parkinson (7 tablets, injections and syrups); blood
drugs affecting the anti-coagulants and antagonists (11
tablets, injections and syrups); cardiovasculars (78 cap-
sules, tablets, injections and syrups); diuretics (12 tab-
lets, injections and syrups); gastrointestinals (24 tablets,
injections and syrups); hormones and other endocrine
drugs (13 tablets, injections and syrups); muscle relax-
ants (14 tablets, injections and syrups); psychotropics
(tablets, injections and syrups); drugs acting on respira-
tory tract (16 tablets, injections and syrups); anti-spasm
and anti-cholinergics (8 tablets, injections and syrups);
anti-emetics and anti-nauseates (15 tablets, injections and
syrups); urological preparations (2 tablets); dextrose in-
fusion, electrolytes and dialysates dextrose (37 tablets,
injections and syrups); anti-neoplastic and
immunosuppresives (145 tablets, injections and syrups);
antidotes (12 tablets, injections and syrups); cerebery/
periphery disorders (8 tablets, injections and syrups);
tropical antibiotics; ligatures and sutures (88 items).
ATAGLANCEHIV was first reported in India in the late 1980s, but
is now estimated to have four million sufferers.
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Asian Medical Industry News
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Share price movements ranked by performance since Jan 1stStock Price (Rs) Price change since
Company Code Exchange Mar 29th Issue 9 1/1/02 1/1/01
India
Reckitt Benckiser RCKT Bombay 241 -0.6% 70.3% -8.1%Torrent Pharmaceutical TORP Bombay 215 -7.3% 57.0% 22.9%
Bal Pharma BALP Bombay 17 24.8% 55.5% 14.0%
Bayer India BAYE Bombay 1,348 -3.6% 54.1% 127.3%
Astra-IDL ASTR Bombay 364 0.3% 48.4% -7.3%
Abbott Laboratories ABBT Bombay 207 -2.1% 47.6% -22.9%
Knoll KNOL Bombay 307 1.5% 29.3% -12.2%
Lupin Laboratories LUPN Bombay 117 -3.7% 27.6% -46.8%
Ranbaxy Laboratories RANB Bombay 878 -1.5% 27.3% 30.7%
JB Chemicals JBCH Bombay 154 3.0% 27.3% 23.2%
Nicholas Piramal NICH Bombay 271 -0.3% 20.9% -24.5%Dr Reddys Laboratories REDY Bombay 1,098 2.9% 18.9% 74.5%
Wyeth Lederle WLED Bombay 255 -0.0% 18.5% -20.4%
GlaxoSmithkline GLAX Bombay 340 -4.4% 18.3% -25.2%
Novartis NOIN Bombay 246 2.2% 17.3% -53.0%
Sun Pharmaceuticals SUN Bombay 670 2.7% 16.9% 24.5%
Duphar-Interfran DUPH Bombay 135 5.4% 16.3% -60.4%
Wockhardt WCKH Bombay 557 5.6% 15.0% 30.7%
Procter & Gamble PROC Bombay 503 -0.2% 10.5% -27.7%
E Merck EMER Bombay 303 2.7% 9.7% -30.1%
Unichem Labs UNLB Bombay 200 -0.2% 8.7% 5.3%
Burroughs Wellcome BURR Bombay 183 -3.4% 6.8% -37.4%
FDC FDC Bombay 200 -2.9% 2.6% -7.0%
Shasun Chemicals SHAS Bombay 67 -1.5% 2.5% -14.9%
Bayer Diagnostics BDIL Bombay 227 -2.4% 2.4% -3.3%
Orchid Chemical ORCD Bombay 69 1.2% 2.0% -33.3%
Pfizer PFIZ Bombay 450 0.9% 1.1% -26.2%
Zydus-Cadila CADI Bombay 128 2.6% -0.3% -19.2%
Jagsonpal Pharma JGSN Bombay 127 -0.7% -2.7% -78.5%
Aventis Pharma AVPH Bombay 405 18.1% -2.7% -13.3%
Aurobindo Pharma ARBN Bombay 215 -7.2% -5.9% -56.8%
Cipla CIPL Bombay 1,018 0.3% -10.0% -26.8%
Morepen Laboratories MORL Bombay 53 -6.9% -12.3% -56.2%
Ajanta Pharm AJPH Bombay 47 0.0% -21.0% -54.9%
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