Starting from March 1st, the Value-Added Tax on 21 Drugs for Rare Diseases will be 3 percent in China
On February 11th, the State Council of the People’s Republic of China held a meeting to propose measures for strengthening the early diagnosis and treatment of cancer and the use of medicines, which decided to reduce VAT tax for rare diseases, details as below:
- Accelerate the improvement of cancer diagnosis and treatment system, strengthen scientific and technological research, and improve the level of primary medical institutions.
- Accelerate the registration and approval of new anti-cancer drugs at home and abroad. Organize experts to select new clinical drugs for urgently needed to promote the simultaneous listing of new overseas drugs in China. Facilitate import channels for urgently needed clinical anticancer drugs. Implement measures for price reduction of anticancer drugs and medical assistance for cancer patients, and speed up the adjustment of the list of medical insurance drugs.
- From March 1st, the import drugs VAT tax will be 3% for the first batch of 21 rare disease drugs and 4 APIs (Active Pharmaceutical Ingredients), according to the anti-cancer drug, and the domestic drugs can choose to levy VAT tax as 3%.
EdiGene, a Gene Editing Company Made Progress of Gene Therapy by Completing the Pre-B+ Round Financing of RMB 70 Million
EdiGene announced that it has completed the pre-B+ round of approximately RMB 70 million in financing. This round of new financing will validate further and support the company’s strategy of transforming self-developed technology platform into an effective treatment for patients. At the same time, Dr. Yun Li, who has extensive clinical experience, joined the company and served as the vice president of clinical research.
EdiGene is a biotechnology company focused on genome editing technology, dedicated to using genome editing technology to develop new therapies for diseases that are difficult to cure with traditional therapies, and to provide more innovative solutions for new drug development. This round of financing was led by Green Pine Capital Partners, and the company’s A-round led the investment of IDG Capital, Pre-B round of investment in the Lilly Asia Ventures and other existing investors.
Founded in 2015, EdiGene Inc. is headquartered in Beijing and has offices in Guangzhou and Cambridge, USA. With a technology and production development platform with independent intellectual property rights, EdiGene is committed to transforming cutting-edge genome editing technology into a cure for genetic diseases and cancer, and using innovative high-throughput genome screening technology to speed up the development of new drugs.
The Speed up of New Anti-Cancer Drugs Approval Process Overseas Meets the Urgent Needs of Patients
On February 11th, the State Council of the People’s Republic of China proposed to speed up the registration and approval of new anti-cancer drugs overseas to meet the urgent needs of domestic patients. China’s drug review and approval reform has reversed the situation that the international drug treatment for new drugs being delayed for 5 to 8 years.
In 2018, 18 of the 48 new drugs approved by State Food and Drug Administration were anti-cancer drugs, and 13 of them were imported new drugs. Since last year, State Food and Drug Administration has accelerated the listing of clinical urgently needed new drugs in China. If the applicant’s research believes that there is no ethnic difference, it can submit all the research materials obtained overseas to directly declare the listing. Experts said that the rapid listing of these “life-saving drugs” depend on the continuous deepening of the reform of the drug review and approval system as well as the improvement and implementation of the priority review and approval policies.
Sanomics, a Tumor Genetic Testing Company Expand Tumor Detection Business in Bangkok, Thailand
In 2015, Berry Genomics established Sanomics in Hong Kong, which is positioned to provide safe and efficient liquid and tissue tumor genetic testing services for medical institutions to help doctors identify personalized cancer medications for patients. In less than four years, Sanomics has developed into an outstanding tumor genetic testing institution in Hong Kong and Asia-Pacific Region, covering more than 95% of public and private hospitals involved in cancer detection in Hong Kong. Its business has reached more than 20 Asia Pacific Region and the Middle East countries.
The core development strategy of Sanomics is quality, which continues to gain recognition from many quality capitals. In 2018, the company received an medical investment from a subsidiary of Chow Tai Fook Group in Hong Kong, a powerful private business group with a total asset value of more than US$5 billion that invests in various business areas, such as real estate, energy, infrastructure, and retail department store. On January 26, 2019, Sanomics officially opened a branch office in Bangkok, Thailand.
Sanomics chose Bangkok as the first stop for Southeast Asia business, not only because more than 20% of the company’s commercial samples are from Southeast Asian countries, but also there are about 123,000 new cancer patients in Thailand every year. At the same time, Thailand is a popular medical tourism in Southeast Asia. The healthcare system is relatively well-developed. The new laboratory is expected to cooperate with Bangkok Hospital, Bumrungrad International Hospital, and King Chulalongkorn Memorial Hospital to provide genetic testing services for cancers, such as lung cancer, thyroid cancer, colorectal cancer and hereditary tumors.
About Berry Genomics
Founded in May 2010, Berry Genomics is the leading genomics company specializing in developing and commercializing technologies for life sciences and clinical applications. Among the clinical applications, the company is dedicated to developing next generation sequencing (NGS) based tests for genetic disease and cancer from preconception to adulthood.
Migraine Drug Market may Exceed 11 billion USD in the Next 10 Years
Migraine is a very common disease, with more than 33 million patients in the United States, and the incidence rate of women is three times than men. The disease attack often lasts for 4 to 72 hours, and accompanied with nausea, vomiting, photophobia and/or phonophobia. The market for prescription drugs of acute and prophylactic migraine has been stable for many years. Nowadays, we faced more changes in correspondence to the the transition period.
The approval of the first prophylactic migraine drug in 2018 shed new light on the migraine drug market since 2010, and it is expected that more drugs for the prevention and treatment of acute migraine will be available in the next five years. Among these high-cost innovative drugs, more than seven therapies targeted the Calcitonin Gene-Related Peptide (CGRP). At present, CGRP, as a key pathological factor of migraine, has been highly valued by the industry.
The new drug targeting CGRP has become the first new migraine-specific drug approved for the first time in more than 20 years.In 2017, the seven major markets for migraine (G7 countries: the United States, France, Germany, Italy, Spain, the United Kingdom and Japan) totaled approximately $3.8 billion, among them, the acute migraine accounted for more than 50%. Stimulated by CGRP-targeted drugs, the market is expected to grow substantially in the next 10 years, with a scale of over $11 billion USD.
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