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...Guangzhou and Chengdu as well as the province of Sichuan and other local governments have set up funds this year to raise money for investment in areas prioritised by Beijing, including semiconductors, biotechnology...
...However, biotechnology has generally delivered strong returns for over a decade....
...Pascal Soriot, AstraZeneca’s chief executive, said in February that drugmakers should not be made to pay for the “explosion” of NHS costs, while US pharma groups Eli Lilly and AbbVie quit the pricing agreement...
...Other people familiar with the government’s change of strategy on the VMIC drew comparisons with its sudden cancellation in September of a Covid-19 vaccine contract with French biotechnology company Valneva...
...Efforts to reinvent itself as a “fermentation biotechnology company”, however, have been met with investor criticism as rivals such as Anheuser-Busch and Asahi strengthen their core beer business....
...Last year a Hong Kong court heard accusations that KPMG conducted “appalling” audit work that allowed a $400mn accounting fraud by a US-listed Chinese biotechnology company, China Medical Technologies....
...AbbVie, another US pharma group, agreed to pay mainland biotech I-Mab up to $2bn for access to its experimental cancer drug in September....
...The new ETF aims to provide investors with access to high-growth sectors in China such as biotechnology and clean energy....
...The new fund, which will lock up investors’ cash for a number of years, will aim to invest in companies that are between about six and 24 months away from going public, in areas such as biotechnology, medical...
...The available thematic models are cloud computing, cyber security, 5G “future connectivity”, electric vehicles, clean energy, fintech, digital health, biotechnology and drug discovery, staples, utilities...
...The Japanese company has sought to diversify from the shrinking domestic beer business by strengthening its biotechnology and pharmaceuticals divisions....
...“We want to turn Kirin into a fermentation biotechnology company. We need to grow a new business while the beer segment is still healthy,” he added....
...In November, Chinese biotech company Suzhou Abogen Biosciences and its partner Walvax Biotechnology received regulatory approval to test their mRNA vaccine candidate in a booster trial....
...Smaller producer Walvax Biotechnology is already conducting trials. But the entry of a larger player such as Sinopharm into the mRNA market could give the technology a significant boost in China....
...Smart reads The Theranos effect Female founders, particularly in the science and biotechnology space, still find themselves unfairly likened to Elizabeth Holmes, the infamous entrepreneur who is preparing...
...Anglo-Swedish drugmaker AstraZeneca has agreed to buy US biotechnology group Alexion in a $39bn deal, marking the biggest agreement struck by a pharmaceutical company since the start of the Covid-19 pandemic...
...Biotechnology groups listed in Hong Kong have tapped funds at a record pace in 2021 as buoyant markets and rising interest from global investors bolster the Asian bourse’s challenge to Wall Street’s hold...
...More recently, the Japanese group has sought to diversify from its beer business by strengthening its biotechnology, pharmaceuticals and cosmetics divisions....
...Other exciting new technologies, such as quantum computing, self-writing software 2.0 and biotechnology, are also opening up possibilities for a new age of discovery and economic productivity....
...Bruno Bulic, a pharmaceuticals analyst at Baader Helvea, said the Vir approach was more “promising” than other potential treatments — including some from Gilead and AbbVie — that sought to disrupt the virus...
...The Biotechnology Innovation Organization (BIO) says more than a third of its 1000 members are now working on coronavirus....
...The Anglo-Australian group said on Wednesday it had hired David Lamont from CSL Behring, a fast-growing biotechnology company that in March briefly overtook BHP as Australia’s most valuable listed company...
...persuaded Arthur Levinson, the driving force behind the biotech giant Genentech and chairman of Apple, to oversee the new business and lined up $1.5bn in funding pledges — half from Google, the balance from AbbVie...
...The Premier League, the world’s most valuable domestic football competition, has hired Prenetics, a Hong Kong-based biotechnology company, to conduct coronavirus tests on players twice a week....
...The Japanese group defended its strategy to diversify from its core beer business into biotechnology, pharmaceuticals and cosmetics, outlining for the first time profit targets for its “health science” businesses...
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