NEW YORK, November 7, 2017 /PRNewswire/ --
China's healthcare market is projected to grow at an unprecedented CAGR of about 12% to reach $1 trillion by 2020, or up from $357 billion in 2011 as estimated in a recent report from McKinsey & Co. The government in China has decided to take major steps to improve the local healthcare infrastructure. A recent Bloomberg article emphasized the importance of a recent regulatory change of the Chinese government, according to which new rules will speed up approvals of medicines and medical devices, easing the process of introducing new treatments to the market. Shineco Inc (NASDAQ: TYHT), Hutchison China MediTech Limited (NASDAQ: HCM), iKang Healthcare Group, Inc. (NASDAQ: KANG), BeiGene, Ltd. (NASDAQ: BGNE), Zai Lab Ltd. (NASDAQ: ZLAB)
For years, local and multinational drug manufacturers have struggled with delayed approvals in China. Bloomberg's report explains that a surging number of applications and a relatively small team of government reviewers resulted in a regulatory backlog. "For multinational and leading local innovative drugmakers, the anticipated acceleration of approval will improve patients' access to new medicine and increase revenues for pharmaceutical companies," said Jialin Zhang, senior healthcare analyst at ICBC International Research Ltd.
Shineco Inc (NASDAQ: TYHT) announced breaking news this morning that, "a producer and distributor of Chinese herbal medicines, organic agricultural products, specialized textiles, and other health and well-being focused plant-based products in China, today provides further update on the status of establishing an apocynum industrial park in Xinjiang, China.
As we have previously disclosed on September 22, 2017, Shineco will operate the apocynum industrial park through its joint venture company, namely, Xinjiang Shineco Taihe Agriculture Technology Ltd. ("Xinjiang Taihe"). In compliance with the local regulations on apocynum harvest which regulate apocynum harvest for environmental concerns, Shineco has applied and received the Wild Apocynum Harvest Permit from the government of the Korla Region in Xinjiang, China. 2,000 workers will help Shineco harvest apocynum in the Tarim Basin Gobi Desert.
Authorized and supported by the local government, Shineco, Inc. plans to harvest 100,000 tons of apocynum straws beginning winter of 2017 until spring of 2018. It is a good start to establish an Apocynum Industrial Park and will set a solid foundation for Shineco's business development and revenue growth in 2018. Shineco will also be helping 2,000 workers gain work placements with competitive salary in the local labor market, corresponding to the "poverty reduction" policy initiative that the Chinese government is actively promoting.
Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, stated, "We have long been committed to growing the apocynum industry in China, so we spared no effort in establishing an apocynum industrial park. We are excited that the comprehensive support from the local government has helped our business grow faster. With the promising development of Shineco's business operation, we look forward to making more contributions to the apocynum industry and resolving local employment problems."
Hutchison China MediTech Limited (NASDAQ: HCM), known as Chi-Med, is an innovative biopharmaceutical company aiming to become a global leader in the discovery, development and commercialisation of targeted therapies for oncology and immunological diseases. On October 31, 2017, the company has initiated FRUTIGA, a pivotal Phase III clinical trial of fruquintinib in combination with paclitaxel for the treatment in advanced gastric or gastroesophageal junction adenocarcinoma patients in China. Fruquintinib is a highly selective and potent oral inhibitor of vascular endothelial growth factor receptors 1, 2 and 3. This randomized, double-blind, placebo-controlled, multicenter trial is being conducted in patients with advanced gastric cancer who have progressed after first-line standard chemotherapy.
iKang Healthcare Group, Inc. (NASDAQ: KANG) is one of the largest providers in China's fast-growing private preventive healthcare space through its nationwide healthcare services network. iKang's nationwide integrated network of multi-brand self-owned medical centers and third-party facilities provides comprehensive and high-quality preventive healthcare solutions across China, including medical examination, disease screening, outpatient service and other value-added services. In the fiscal first quarter ended June 30, 2017, iKang served a total of 1.41 million customer visits under both corporate and individual programs. On September 15, 2017, the company announced its unaudited financial results for the first quarter ended June 30, 2017. Net revenues were US$115.6 million, an increase of 14.2% year-over-year.
BeiGene, Ltd. (NASDAQ: BGNE) is a global, commercial-stage, research-based biotechnology company focused on molecularly targeted and immuno-oncology cancer therapeutics. BeiGene is also working to create combination solutions aimed to have both a meaningful and lasting impact on cancer patients. Recently, the company announced that it will present data on its Bruton's Tyrosine Kinase (BTK) inhibitor at the upcoming 59th American Society of Hematology (ASH) Annual Meeting. ASH will take place December 9-12, 2017 in Atlanta, GA.
Zai Lab Ltd. (NASDAQ: ZLAB) is a Shanghai-based innovative biopharmaceutical company focused on bringing transformative medicines for cancer, autoimmune and infectious diseases to patients in China and around the world. Zai Lab's vision is to become a fully integrated biopharmaceutical company, discovering, developing, manufacturing and commercializing its partners' and its own products in order to impact human health worldwide. On September 29, 2017, the company announced that it has dosed the first patient in a Phase 3 registration trial to evaluate the safety and efficacy of ZL-2306 (niraparib) for the maintenance treatment of patients with recurrent epithelial ovarian, fallopian tube and primary peritoneal cancer who are in a complete or partial response to platinum-based chemotherapy. The Phase 3 trial is designed to evaluate ZL-2306 as a second-line maintenance therapy in patients with recurrent platinum-sensitive ovarian cancer.
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