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Vol.4, No.03
CHINA HEALTH SCIENCES NEWSLETTER
Vol. 4 , No. 3 - February 5, 2003 Season's Greetings from Beijing! Here in China, we are enjoying the most celebrated holiday season for this country of 1.2 billion -- the lunar new year. The lunar calendar is based on the cycles of the moon. The New Year varies every year and began this year on February 1. The complete twelve-year cycle is commonly referred to as the Chinese Zodiac. There are twelve animals that make up the Chinese Zodiac: Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Ram, Monkey, Rooster, Dog and Boar. 2003 is the Year of the Ram, which is considered the most mild mannered of all the other animals in the Chinese Zodiac. Believers of the Chinese Zodiac comment that the Year of the Ram will be a year of calmness and tranquility. In observation of the national holiday schedule, our offices will be closed from noon on January 31 thru February 8. LEHMAN, LEE & XU wishes you all best in the Year of the Ram. We thank you for your continued interest in our newsletter. Best Regards, Edward E. Lehman, Attorney
Managing Director
Lehman, Lee & Xu |
TOPICS THIS ISSUE: - Home-made AIDs Drugs Go on Market
- Air Ambulance Service Launched in China
- Orbis Visits Fuzhou
- Sumitomo's Shanghai Unit to Supply Drug Ingredients
- Japanese, Chinese Drug Companies Sign Agreement
- China Appraises Hospitals
- Social Security Fund to Join Capital Game
Home-made AIDs Drugs Go on Market
The country's first batch of home made AIDS drugs has arrived in Central China recently from their production base in Shanghai.
The drugs, which can be used to complete two cocktail therapies, are the first batch of domestically produced AIDS medicines. They can supply 3,000 AIDS patients for one year.
The company, located in the city's Zhangjiang High-Tech Park, obtained a production license from the State Drug Administration (SDA) in September to sell two formulations, Didanosine (DDI) AND Stavudine (D4t).
The two formulations are popular in cocktail therapies against the HIV virus.
According to the company, the batch of drugs was bought by the State Economic and Trade Commission, while the central government has ordered further production for one year's supply for 2,000 AIDS patients.
(Source: Xinhua News Agency)
Air Ambulance Service Launched in China
International SOS recently announced the launch of its first air ambulance operation in China. Based in Beijing, the rescue flight could cover Japan, South Korea, Pakistan, Mongolia and Singapore.
China's largest business jet charter company, Deer Jet, is providing a Hawker 800XP airplane fitted with advanced medical equipment to enable doctors to treat and stabilize patients in transit.
"The service will mean the difference between life and death for those suffering medical emergencies in remote areas," explained Dr. Pascal Rey Herme, one of the founders of International SOS.
(Source: Xinhua News Agency)
Orbis Visits Fuzhou
The US-based Orbis Medical Eye Surgery Teaching Hospital paid a flying visit to East China's coastal city of Fuzhou, capital of Fujian Province, from January 13 to 24. Seven ophthalmologists with the flying hospital examined 263 eye patients and performed 41 operations in the city. About 144 Chinese ophthalmologists watched the operations and attended lectures held by the experts.
"When a strabismic child sees straight for the first time in his life, when an old man sees himself in the mirror again, our efforts are rewarded," said Carlos Solarte from Columbia, chief ophthalmologist for the Fuzhou visit. This was the 29th visit to China by Orbis. The hospital will fly to the northern Chinese cities of Shenyang and Tianjin from September to October this year, according to Tan Leshan, chief representative of the Orbis China Office. As an international non-profit organization, Orbis is dedicated to fighting blindness globally. In 1982, Orbis, which chose China as its first overseas destination, has trained 14,000 Chinese ophthalmologists and nurses to date. During its four around-the-world circuits, Orbis has visited 80 countries and trained more than 54,000 ophthalmologists and nurses.
(Source: Financial Times)
Sumitomo's Shanghai Unit to Supply Drug Ingredients
The Sumitomo Corp. group has established a wholly owned subsidiary in Shanghai to supply low-cost pharmaceutical materials and semi-finished products made in China to Japanese, U.S. and European drug makers, company sources said.
Capitalized at US $2 million, the subsidiary will initially provide quality-control guidance to about 10 local pharmaceutical firms to procure a stable supply of low-cost Chinese drug materials/semi-finished products. This is the first attempt by a Japanese company to arrange large-scale shipments of Chinese pharmaceutical products to major international drug firms.
The subsidiary, which will absorb Sumitomo's existing pharmaceutical operations in China, will aim for annual sales of US $100 million in five years.
Sumitomo has so far sold Japanese, Indian and Western pharmaceutical materials/semi-finished products to major drug makers, which have increasingly been seeking other sources to cut costs.
The trading house decided to establish a major pharmaceutical foothold in China to take advantage of the rising technological level of Chinese drug firms and their low production costs. This is part of an effort by Sumitomo, which has pharmaceutical-related subsidiaries in the U.S., the U.K. and Japan, to establish a global supply network.
(Source: The Nikkei Weekly)
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Japanese, Chinese Drug Companies Sign Agreement China's Sanjiu Enterprise Group has signed an agreement with Japan's Hac Kimisawa Co., Ltd. that would allow the two companies to expand into each other's home markets. Sanjiu president Zhao Xinxian said his company will set up about 10,000 chain drug stores, with most being centered in Beijing, Shanghai, Guangzhou and their surrounding areas. The agreement also permits Sanjiu to sell medicine in the Japanese market through Hac Kimisawa's network. (Source: PR Newswire) China Appraises Hospitals China is promoting reform of the medical system and improving quality and efficiency of hospital services through a three-year long public appraisal program. Named "Trustworthy Hospital Appraisal," the program is organized by the China Association for Hospital Management. It is divided into three periods. The first one, featuring "transparency in medical services," was carried out in 2001. The second, featuring "high quality and efficient medical care," was carried out in 2002. According to the organizer's plan, those hospitals, which won the first two rounds of competition, will be allowed to participate in the third, which is themed a "green medical environment." A diploma awarding conference was held Tuesday in Beijing for hospitals that have passed the initial appraisal rounds. Last year, 576 hospitals were chosen nationwide as satisfactory for patients, accounting for 82.6 percent of those taking part in the public appraisal activities. The hospitals have made remarkable progress in terms of services, according to the hospital management association. The "green medical environment" round of the appraisal activities will kick off in February this year. Its criteria will include cleanliness and beauty of the hospital environment, healthiness of catering services for patients and safety of medical equipment management. (Source: Xinhua News Agency) Social Security Fund to Join Capital Game China's social security fund is expected to flow into the nation's capital markets within the year, with corporate annuity and individual account funds following closely behind. About 40 percent of China's social security fund, worth about RMB 300 billion (US $3.7 billion), will be invested in the stock markets, according to Liu Yongfu, deputy minister of Labor and Social Security. A certain proportion of the fund will be invested in corporate and treasury bonds. About RMB 20 billion (US $2.4 billion) in corporate annuity funds, plus an unspecified amount from individual account funds in the social welfare pool will gradually be injected into the markets. The move will inject much-needed liquidity into the markets, while potentially helping the fund earn a higher rate of return. China's social security fund, which groups pensions with medical and unemployment insurance, has so far invested in safer bank deposits and treasury or corporate bonds. But the lower rates of returns in those safer investments have prompted worries the pension could dry up as China's ageing population grows. The National Social Security Fund Council (NSSFC) in December selected six domestic fund management firms to help invest China's welfare funds in an effort to shore up the pension fund by trading shares, domestic bonds and investment funds. NSSFC was set up two years ago by the State Council to manage China's social security fund. The fund managers are Southern Fund Management Co, Boshi Fund Management Co, China Asset Management Co, Penghua Fund Management Co, Changsheng Fund Management Co and Harvest Fund Management Co. NSSFC is expected to choose another group of fund managers in May, industry insiders suggest. The fund last year racked up RMB 583 million (US $70.5 million) in interest from treasury bonds, representing 60 percent of its total revenue - RMB 967 million (US $116.9 million). The national fund, which includes money accumulated in local pools, produced a RMB 300 billion (US $36 billion) surplus in 2002, indicate official statistics. Much of the social security fund belongs to local governments and cannot be invested in stocks. Such bars will gradually be lifted to ensure the fund receives better returns, Liu said. "We will further enhance the management and investment operations of the welfare fund, adopting international standards and experiences to set up separate accounts, standardize operations and prevent fraud," Liu said. The national welfare fund lacks efficient supervision and proper management mechanisms, he said. (Source: Financial Times)
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Email: shanghai@lehmanlaw.com | The China Health Sciences Newsletter is intended to be used for news purposes only. It should not be taken as comprehensive legal advice, and Lehman, Lee & Xu will not be held responsible for any such reliance on its contents.
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