Cardiologists in the trenches may be far more eager to prescribe Eli Lilly's anti-clot drug prasugrel than statements by academic doctors would suggest, according to a new survey commissioned by the investment bank Credit Suisse First Boston.

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Forbes.com

An antinicotine pill is Pfizer's fastest-growing prescription since Viagra. Could side effects make it go up in smoke?

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Forbes.com

on Nov 12, 2007 by ChinaBio Today

Investment in China biopharma prospered last week across a varied front. In a new story, Lilly (LLY) announced that its initiative called Lilly Asian Ventures has plans to invest $100 million in up and coming China biopharma over the next five years. Pointing out that 20% of its researchers are Chinese in origin, Lilly says the new initiative will take Lilly to the innovators, rather than asking the innovators to come to them. Earlier this year, Lilly Asian Ventures made its first investment, putting $10 million with BioVeda China, a venture capital fund seeking to place money with companies that have the potential to become large multinational biopharmas (see story).

Lilly Asian Ventures now will make direct investments in China biopharmas. It is in talks with ten China startups and expects to make announcements with some of them in the first half of 2008, according to GBInformation. Lilly Asian Ventures is an arm of Lilly Ventures, which manages more than $175 million internationally. During the past week, Lilly Ventures opened its China headquarters in Shanghai's Pudong District.

Lilly Invests $10 Million In BioVeda China VC Fund

BioVeda China Firm, a Shanghai-based venture capital firm, announced that Lilly (LLY) Asia Ventures has made a $10 million investment into the BioVeda China fund. BioVeda China is the first international venture capital fund dedicated to making life science investments in China.

BioVeda China will seek to identify companies that can become future industry leaders, transforming them into next-generation multinationals. Lilly Asia Ventures is a newly formed subsidiary of Lilly Ventures, the well-established venture capital arm of giant pharma Lilly.

BioVeda China, based in Shanghai, was originally formed in 2005. At its outset, the fund projected a final size of $30 million. The fund was looking for companies that offered late-stage opportunities with exits available in two to three years. Previous investors include IFC (the venture capital arm of the World Bank), HBM Bioventure, Temasek and Shanghai Pudong Government.

The parameters of the fund have grown dramatically since then. BioVeda reports that BioVeda China has made $120 million worth of investments in six companies. Investments include biotechnology, pharmaceuticals, biomaterials, bio-fuels, medical technologies, hospital/healthcare services, environmental products and services and agriculture products.

In its earlier funds, before becoming interested exclusively in China, BioVeda invested $30 million in 13 companies located in the U.S., China, Singapore and the UK, often with an Asian component to the investment. Many of the companies are NASDAQ-listed biotechs, such as Memory (MEMY) and Dynavax (DVAX). In the case of Memory, the investment supported the establishment of a subsidiary in Singapore. Other companies, still private, were located in Singapore (MerLion Pharma and NeuroVision) and China (NOD Pharmaceuticals).

According to a 2002/2003 survey by Venture Reporter, BioVeda was the only Asia-based member of the “Top 25” Biotech VC funds in the U.S.

For its part, Lilly is very committed to R&D in China. It has partnered with Shanghai ChemExplorer to develop chemical pharmaceuticals, and in 2005, its largest non-U.S. collection of researchers was located in China

Witnesses at House hearing express outrage over lack of FDA inspections

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From Chemical & Engineering News

Faced with low-cost competition from Indian and Chinese newcomers, established contract research firms elsewhere reach for the scientific high ground

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From Chemical & Engineering News

FDA clarifies the comment period regarding behind-the-counter availability of some nonprescription drugs continues through Dec. 17, according to a Nov. 27 Federal Register notice.

The agency says it incorrectly listed the closing date for the comment period on BTC availability as Nov. 28 in an Oct. 4 notice. That notice announced the Nov. 14 public meeting the agency conducted in Washihngton to obtain comments from stakeholders in the drug, pharmacy and health care industries on BTC statuts for some drugs.

The docket for BTC comments will remain open until Dec. 17, which will be 30 days after the meeting, FDA says.

thetansheet.com

Lack of resources and staff are two of the main reasons why FDA does not conduct more overseas pre-approval and post-market inspections, Deborah Autor, director of FDA's Center for Drug Evaluation's Office of Compliance, told generic drug makers meeting in Bethesda, Md.

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Pharmasianews.com

23/11/2007 - The official report into good manufacturing practice (GMP) failures that caused dangerous contamination and a Europe-wide recall of Roche's HIV drug Viracept (nelfinavir) claims the firm simply did not understand its own manufacturing processes.

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In-Pharmatechnologist.com

22/11/2007 - Merck & Co. and its partner Vertex Pharmaceuticals have stopped enrolling cancer patients to the clinical trial of its aurora kinase trial after one patient suffered heart problems.

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DrugResearcher.com

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Pharmaceutical Technology