Sanofi-Aventis (SNY) 12-04-10: Big news this week in Asia as pharma giant Sanofi-Aventis launches its first Asian-Pacific or regional Research and Development hub in Shanghai. The prevalence of type 2 diabetes is greater in Shanghai than the mean national level ( as reported in 2006 ) and with a population of 20 million – this means there is a t2 diabetes population hovering around two million. It’s no surprise that leaders in the big business of diabetes therapies such as Sanofi-Aventis, Novo Nordisk and Johnson & Johnson all have big stakes in China. Sanofi’s VP of China operations told the Shanghai Daily, “We hope to become the first multinational drug company that completes truly homegrown research activities and cooperates with local partners.” (Why is it that homegrown strikes me as ever so slightly misused and unsavvy in this context?) Currently Sanofi-Aventis ranks number 4 in China for sales according to S-A press on the web.
Feeling nervous about the reliability of your test strips… well there may be cause for genuine concern regarding strip authenticity in China. US Federal prosecutors are investigating a Florida man who has been accused by Johnson & Johnson of selling counterfeit versions of its diabetes-care products. Here in China (and it is reported Pakistan) J&J has alleged that a source of the fake OneTouch diabetes strips was a Chinese company, Guilin Chung Fai Biotech Co. Representatives of Guilin Chung Fai couldn’t be reached, the Wall Street Journal reporter stated. Pharmacies are being advised by the authorities.