In a move that will send chills up the spine of all members of the device world, China announced that it is investigating Tong Min, who's in charge of medical device supervision at the China Food and Drug Administration, or CFDA.
Medtronic, known mostly for its high-priced medical devices, is looking for some deals in China as it chases low-price customers for its line of "value products."
China has steeply raised the fees it requires to submit a medical device or a drug to the China Food and Drug Administration to more than $100,000. The move is expected to provide better funding for the regulator, which is struggling with a huge backlog of products awaiting approval.
It is going to cost more than $100,000 to register a drug or medical device in China. The government plans a hike in registration fees for those two products, the first in two years.
The man who was responsible for hospitals and for clinical trials conducted in China before the government lowered the corruption boom has been arrested and is under investigation for bribery, prosecutors said.
The former leader of the federal agency in charge of managing medical device (and drug) clinical trials in China has been arrested for bribery, in the latest sign that President Xi Jinping's crackdown on corruption within the healthcare sector remains alive and well.
When China said it would lift price caps on drugs, the move was heralded as welcome relief for drugmakers. But as Bloomberg reports, the optimism may have been premature. Yes, the price caps won't affect most drugs beginning June 1. But foreign drugmakers are facing pressure to cut their prices voluntarily--more than ever.
China Medical Systems Holding has licensed Greater China rights to develop and commercialize Finland's Faron Pharmaceuticals' Traumakine (FP-1201), a recombinant human interferon (IFN) beta-1a to treat severe and acute respiratory distress syndrome.
Collaboration between biotech companies from the U.S. and China is in a good state of flux as plays from "friends and family" and signs of growing venture capital and big pharma licensing deals are in motion at the same time, according to Andrew Chan, senior vice president of corporate business development for China only Nasdaq-listed biotech, Cellular Biomedicine Group.
China's Sinocare reportedly has made a $1 billion bid for Germany-based Bayer's diabetes devices. As maker of blood-sugar monitors, Sinocare would be challenging a broader based company, Panasonic Healthcare, already months into discussions with the seller.