In today’s talking points: GEN1 Biotechnology raises AUD$8m; Australian scientists make exciting discovery about the human brain; Online drug stores set to expand with policy reforms; Shanghai Pharma and DHL to build global pharmaceutical distribution network.
GEN1 Biotechnology raises AUD$8m
GEN1 Biotechnology Pty Ltd, a biopharmaceutical manufacturer based in Adelaide, Australia, has completed an AUD$8m funding round, with an expected closing during September 2017. Funds were raised from Australian private equity investors, local banks, and the South Australian Government’s Health Industries Fund.
Producing high-valve injectable biopharmaceuticals, GEN1 is building Australia’s first large-scale pharmaceutical factory and needed sufficient funding to further the project. GEN1 Chief Financial Officer, Kishen Vijayadass, is extremely happy with the funding announcement. The project could potentially save South Australia up to $70m a year in medication spending. Currently, injectable medication is predominately being imported from overseas. According to IMS Health, the market for injectable medication in Australia is larger than AUD$10 Billion a year with an estimated growth of 15-20%.
Read more at: BusinessWire
Australian scientists make exciting discovery about the human brain
Health conditions such as depression and post-traumatic stress disorder (PTSD) could have new treatments thanks to a group of Australian scientists. A mouse study conducted by researchers at the Queensland Brain Institute, published in the journal Molecular Psychiatry, found that the adult brain can generate new nerve cells in the amygdala – the region responsible for producing feelings of fear and dread. The amygdala has long been implicated in disorders such as depression and anxiety, and this is the first time that new cells have been discovered in the amygdala, lead researcher Professor Pankaj Sah said. The researchers are now working to fully understand the functional significance of these new neurons in the amygdala in the hope of finding a way to change the brain circuitry in those with PTSD, Dr Jhaveri said.
Read more at: Sydney Morning Herald
Online drug stores set to expand with policy reforms
China’s internet pharmaceutical industry is set to receive a boost with medical reforms, opening up a fast-growing market. Statistics from the 2017 China Medical Market Development Blue Book has shown that the business-to-consumer sector of China’s pharmaceutical industry is expected to increase by 70.9 percent in 2017 compared to last year, to be valued at RMB 45.77 billion. Total sales in the industry equated to RMB 350 billion last year, but sales from online pharmacies only represented 3-4 percent of this volume, showing plenty of scope for growth. Although in recent years these online drug stores have been steadily improving, Wang Licheng, the CEO of Dingdang Medicine Express, felt that the online sector still had to mature and needed to combine with offline outlets due to the nature of the industry.
Read more at: China Daily
Shanghai Pharma and DHL to build global pharmaceutical distribution network
Shanghai Pharma and DHL Supply Chain have recently signed a Memorandum of Understanding (MOU) giving Shanghai Pharma priority access to DHL’s distribution network, including temperature-sensitive life sciences services to Europe. Recent regulations such as the new fapiao policy, which aims to reduce multiple distributors and mark-ups by allowing only two invoices per goods shipment, have placed a greater importance on logistics processes. This MOU would not only allow Shanghai Pharma to comply with these regulations but to increase its overseas expansion, and would help optimise its supply chain by improving quality control, compliance with food and pharmaceutical regulations, as well as streamlining the distribution process.
Read more at: BioSpectrum Asia