Foreign Investors Focus on Chinese Healthcare Market
Year:2009 ISSUE:34
Click:350    DateTime:Dec.04,2009
Foreign Investors Focus on Chinese Healthcare Market    

On October 9th, Mr. Xin Weidong, deputy general manager of Shanghai SYM-BIO Lifescience Co., Ltd., announced together with PerkinElmer's global executives that PerkinElmer acquired full equity of Shanghai SYM-BIO Lifescience Co., Ltd.
   Shanghai SYM-BIO is China's first company which developed and produced successfully the Time-resolved Fluorescence Immunoassay System and Supporting Diagnostic Kits, specializing in the research, development, production and sales of vitro diagnostic instruments and reagents. PerkinElmer spent US$63.7 million (approximately RMB435 million) in this acquisition.
   In the field of R & D, after the acquisition, PerkinElmer committed that Shanghai SYM-BIO will develop new diagnostic products and technologies, including early screening of tumor in the field of oncology, and bring innovated products and technologies to the global market.
   In 2008 PerkinElmer posted a sale revenue of US$100 million in the Greater China region. The company expected the annual sale revenue to reach US$500 million in the next few years.
    Apart from this case, another latest case involving in foreign investor's M & A in China's pharmaceutical industry was that the merge between Pfizer and Wyeth got approved by the Ministry of Commerce of China on October 4th.
    It is worthy to note that China's State Food and Drug Administration (SFDA) recently promulgated the "Administrative Regulation for the Registration of Drug Technology License". (CCR 2009 No.28) After implementing of this provision, the time for foreign companies to introduce new products in Chinese market or produce their products locally will be shortened.
   Global drug giant, Novartis announced on November 3rd a US$1 billion investment over the next five years, increasing R & D activities in China. (CCR 2009 No.32)