Asian Med News - October 2002

PROOF
100
Asian Medical Industry News

Medical business opportunities in Asia
PUBLISHING
Editor:
Paul Gordon

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Issue No. 25 October 28th 2002

JAPAN
Iressa to blame for 13 deaths ....................................................... 2
Chugai widens forecast loss ......................................................... 2
Banyu slashes profit forecast ....................................................... 2
Tanabe ties up with Novartis on antagonists ................................. 2
Kawasumi approved for needle device ........................................ 2
Hepatitis victims sue pharma firms ............................................... 2
Glaxo to work with Kissei ............................................................. 2
US prods Japan on pharma reform ............................................... 2
Japanese share price movements ................................................. 3
CHINA/TAIWAN
China, US and Glaxo work together on HIV/AIDS ..................... 4
Shenzhen buys into LaserSight ..................................................... 4
China gives birth to digitized man ................................................. 4
Cardiovascular epidemic on the way ............................................ 4
Taiwan legislators reject biotech park ........................................... 4
SOUTHEAST ASIA
Thai government ready to make HIV pills .................................... 5
MerLion the exception for venture funds ..................................... 5
Judge dismisses counterfeit drug claims ....................................... 5
US firms heads for Malaysia and Singapore ................................ 5
Pharmaniaga ready for next step .................................................. 5
Pfizer Malaysia ready with three new drugs ................................ 5
Bongso faces FEER factor ........................................................... 5
KOREA
LG Life in US$40 million Genesoft deal ....................................... 6
Novartis sees Korea as biotech partner ....................................... 6
HIV costing economy billions ....................................................... 6
Why side-effects occur ................................................................ 6
Korean doctors to study longer ..................................................... 6
Korean share price movements .................................................... 7
Proof 100 Limited

INDIA
REGULAR FEATURES
Japanese share prices ................. 3
Patent decisions and approvals ... 6
Korean share prices .................... 7
Indian share prices ...................... 9
Conference calendar ............ 10-11
Companies listed ....................... 12
Dr Reddys to appeal one decision, applauds two others ............. 8

Ranbaxy enters South African HIV market ................................. 8
Shatha looking for US$25 million .................................................. 8
Lilly shines on Sun ........................................................................ 8
Corporate results ........................................................................... 8
Indian share price movements ...................................................... 9
ASIAN MEDICAL INDUSTRY NEWS

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Japan
Iressa to blame for 13 deaths
Kawasumi approved for needle device
The Japanese health ministry has attributed 13 deaths

to the anticancer drug Iressa (gefitinib). The ministry
says 26 terminally ill cancer patients developed
interstitial pneumonia and other side effects after
being administered the drug, with half of them dying.
Shoji Kudo, a professor at Nippon Medical School,
noted that the mortality rate is higher than other
anticancer drugs although the incidence of non-fatal
side-effects was lower. Iressa, manufactured by
AstraZeneca, received expedited approval in just five
months in Japan because of its reported benefits for
people with progressive cancer. The firm has been
ordered to issue an emergency advisory to alert
medical institutions. The drug is still awaiting approval
in the US.
Kawasumi Laboratories America, a Florida-based

unit of Japans Kawasumi Laboratories, has received
US FDA clearance to market a needle safety device.
The device, K-Shield, protects oncology clinicians
from Huber needle stick injuries incurred while
removing needles from subcutaneous ports.
Hepatitis victims sue pharma firms

Three pharmaceutical companies and the Japanese
government are being sued by 16 hepatitis C patients
seeking 900 million (US$7.2 million) in damages
for negligence. Thirteen men and women have
brought a class action suit in Tokyo, while three
women have filed in Osaka. Twelve of the plaintiffs
say they contracted hepatitis C after being given
transfusions of tainted fibrinogen between 1984 and
1988. An estimated two million Japanese contracted
hepatitis C, mostly from blood transfusions and blood
products. More lawsuits are expected. The fibinogen
was produced by Green Cross, now part of
Mitsubishi Pharma. Both are being sued along with
another drugmaker, Nihon Seiyaku.
Chugai widens forecast loss

Drugmaker Chugai Pharmaceutical has increased
its forecast group net loss for the six months to
September. The firm says losses will now total around
26.4 billion (US$212 million), up from a previous
estimate of 18 billion (US$145 million). Chugai this
month became a subsidiary of Swiss pharmaceutical
multinational Roche Holdings (see Issue 24, p 2).
Glaxo to work with Kissei

GlaxoSmithKline has entered into a license
agreement with Kissei Pharmaceutical for the
Japanese companys selective inhibitors of renal
glucose transport for diabetes. Under the agreement,
Kissei has granted GlaxoSmithKline the exclusive
rights to develop and market the compounds
worldwide, excluding Japan, Korea, China and
Taiwan. Kissei will receive upfront fees, royalties,
and milestone payments from GlaxoSmithKline
related to development and commercialisation. Kissei
has almost completed preclinical studies with the most
advanced agent in the series, which is scheduled for
Phase I in the first quarter of 2003.
Banyu slashes profit forecast

Banyu Pharmaceutical, one of Japans larger
drugmakers, has warned that profits in the six months
to September 30th will be 31% lower than originally
expected. The company now says parent-only net
income will be 6.2 billion (US$49.8 million), down
from an originally forecast 9 billion
(US$72.4 million).
Tanabe ties up with Novartis on antagonists

Tanabe Seiyaku has reached an agreement with
Novartis Pharma to collaborate on the worldwide
research, development and commercialization of its
LFA-1 antagonists. Leukocyte function-associated
antigen-1 (LFA-1) is a cell adhesion molecule
(integrin) expressed on the surface of leukocytes
responsible for leukocyte trafficking and T cell coactivation. The antagonists identified by Tanabe inhibit
leukocyte trafficking and T cell co-activation, so
could be useful for autoimmune disorders such as
rheumatoid arthritis and psoriasis, and for the
prevention of the rejection of organ transplantations.
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US prods Japan on pharma reform

The United States Trade Representative has included
pharmaceuticals and medical devices in a list of ten
sectors in Japan which it would like to see reformed.
The list was presented during the Asia Pacific
Economic Cooperation meeting in Los Cabos,
Mexico. The US says Japans healthcare system is
marked by systemic inefficiencies while the
medical market is hindered by regulatory barriers.

Issue No. 25, October 28th, 2002
Japan
Share price movements ranked by performance since Jan 1st
Company
Stock
Code
Tsumura
4540
Nippon ChemiPhar
4539
Suzuken
9987
Kuraya Sanseido
7459
Nihon Kohden
6849
Hitachi Medical
6910
Shimadzu
7701
Sawai Pharmaceutical 4555
Fuji Pharmaceutical 4554
Toyama Chemical
4518
Ono Pharma
4528
Olympus Optical
7733
Terumo Corp
4543
Vital-Net (Sun-S)
9916
Taisho Pharma
4535
Zeria Pharmaceutical 4559
Azwell
9825
Tanabe Seiyaku
4508
Yamanouchi Pharma 4503
Hisamitsu Pharma
4530
Takeda Chemical
4502
SSP
4537
Eisai
4523
Dainippon Pharma
4506
Fujisawa Pharma
4511
Mochida Pharma
4534
Kaken Pharma
4521
Daiichi Pharma
4505
Santen Pharma
4536
Chugai Pharma
4519
Sankyo
4501
Shionogi
4507
Kyorin Pharma
4560
Banyu Pharma
4515
Mitsubishi Pharma
4509
Core
Exchange business
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Jasdaq
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Osaka
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Tokyo
Price ()
Price change since Mkt Cap
Oct 25th Issue 24 1/1/02 1/1/01 (US$m)
Herbal medicine
Pharmaceuticals
Wholesale
Wholesale
Medical devices
Medical devices
Medical devices
Generics
Generics
Pharmaceuticals
Pharmaceuticals
Medical devices
Pharmaceuticals
Wholesale
Pharmaceuticals
Pharmaceuticals
Wholesale
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
Pharmaceuticals
1,090
453
3,300
867
427
1,530
372
1,620
440
406
3,980
1,841
1,619
710
1,927
999
407
1,080
3,110
1,593
5,180
779
2,680
1,038
2,345
571
522
1,853
1,050
1,006
1,475
1,368
1,989
1,096
816
3.8%
3.0%
0.3%
3.5%
3.6%
7.0%
26.1%
-0.7%
2.3%
-0.7%
0.8%
7.0%
3.8%
1.4%
3.6%
-0.1%
1.8%
5.1%
8.9%
11.9%
4.9%
7.4%
3.1%
1.4%
-0.6%
-2.6%
1.2%
-0.4%
4.0%
8.3%
-1.5%
2.6%
19.8%
-6.1%
1.4%
139.6%
90.3%
59.4%
55.7%
29.8%
28.0%
22.4%
16.5%
7.3%
-1.0%
-1.7%
-2.3%
-4.7%
-5.3%
-6.5%
-7.5%
-7.5%
-7.5%
-10.1%
-11.5%
-12.6%
-17.6%
-17.8%
-22.0%
-22.4%
-25.4%
-26.9%
-27.3%
-29.5%
-33.8%
-34.3%
-38.9%
-41.5%
-43.8%
-44.8%
246.0%
616
97.8%
134
10.0% 2,069
-5.1%
956
44.7%
158
30.8%
488
-2.9%
801
60.4%
138
41.0%
46
-1.7%
491
-9.5% 3,943
-6.8% 3,929
-35.2% 2,755
-16.5%
239
-37.6% 5,298
-10.4%
388
-21.7%
296
12.5% 2,309
-37.0% 9,063
-19.7% 1,306
-23.4% 36,885
-14.5%
763
-33.0% 6,409
-45.1% 1,409
-38.0% 6,213
-18.8%
666
-17.5%
398
-45.5% 4,283
-53.3%
785
-47.1% 2,045
-46.2% 5,349
-41.3% 3,844
-26.3%
924
-57.6% 2,333
-9.3% 1,809

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China/Taiwan
surgery. So far, only the United States and South
Korea have made their own digitized human. The
image is made from a human body specimen by taking
photos of cross sections of a 35-year-old Chinese
man with a digital camera and putting the data into
the computer. The computer then analyzed the data
and produced a three-dimensional image. Team
leader Professor Zhang Shiaoxiang said that their
creation of the man involved 2,518 cross sections,
with the thinnest slice at 0.1 mm. The digitised man
represents the result of a three-year effort by more
than 20 researchers from the Third Military Medical
University in Chongqing.
China, US and Glaxo work together

on HIV/AIDS in Yunnan
A team of Chinese and American researchers has
launched a clinical study of HIV/AIDS treatment in
Chinas AIDS-stricken Yunnan Province with the
objective of developing a strategy for nationwide
treatment. Through the pilot project, in which 300
patients are being treated with the triple combination
antiretroviral therapy the cocktail therapy the
researchers hope to develop affordable and effective
treatment methods for the some one million HIV
positive people in China.
Cardiovascular epidemic on the way
The three-year study consists of a collaborative effort

between researchers from the Chinese Academy of
Medical Sciences (CAMS), the New York-based
Aaron Diamond AIDS Research Center, and the
Yunnan Provincial Center for Disease Prevention
and Control. The study is using Trizivir, a fixed-dose
antiretroviral combination tablet developed by
GlaxoSmithKline.
Cardiovascular illness is due to reach epidemic

proportions in China and the country needs to make
preparations to deal with it, according to a senior
public health official. Kong Lingzhi of the Department
of Disease Control said cancer, cerebral vascular
disease and heart disease have become the top three
killers among Chinas 450 million urban residents.
She blamed lifestyle changes, with a lack of physical
exercise, unbalanced diets and smoking as major
factors. She advocates healthier lifestyles to fight
the epidemic but warns the country to prepare for
far higher medical bills.
Shenzhen buys into LaserSight

US-based laser eye surgery equipment maker
LaserSight says it has received a previously
announced and delayed equity investment from
China. The cash infusion strengthens the partnership
between LaserSight and Shenzhen New Industries
Medical Development, which operates in mainland
China and Hong Kong. The firm had pledged to
deliver the US$2 million investment by September
30th. However, the day after that deadline passed,
LaserSight agreed to give Shenzhen until October
20th to make the investment, which gives the Chinese
firm a 40% stake in LaserSight. Shenzhen aims to
distribute LaserSight equipment in mainland China,
Hong Kong, Macao and Taiwan. The company has
agreed to purchase US$10 million in LaserSight
products in a 12-month period. Thus far, LaserSight
has shipped US$1.1 million in products to Shenzhen.
AT A GLANCE
China and high blood pressure
Around 100 million people in China suffer from
high blood pressure.
Source: Chinese Ministry of Health
Taiwan legislators reject biotech park

A proposal by Taiwans National Science Council
(NSC) to purchase land for a biomedical technology
park has been turned down by opposition legislators.
The planned biomedical technology park covers 38.3
hectares of land in Chupei , Hsinchu County, close
to the Hsinchu Science-based Industrial Park. The
NSC proposed a purchase price of NT$4.45 billion
(US$128 million) for the land to build the park. That
was rejected by legislators as being too expensive.
Some legislators also said that the NSC lacks the
capability to integrate resources pertaining to biotech R&D and related industries.
China gives birth to digitized man

China has become only the third country in the world
to produce a three-dimensional digitized human. The
image will provide scientists and medical practitioners
with basic data to help with medical diagnosis and

Southeast Asia
Thai government ready to make HIV pills
US firm heads for Malaysia and Singapore
Thailands state drug-making agency says it will begin

immediate production of the AIDS drug didanosine
(ddI) following a court decision against the patent
holder, Bristol-Myers Squibb (see Issue 24, p 5).
The GPO already produces didanosine in a powder
form, but AIDS activists say the tablets will be easier
for patients to take and will have fewer side-effects.
The agency will initially produce about 5,000 tablets
a day and will then scale up to produce greater
quantities, all for domestic consumption.The pills will
be sold at around Baht 20 (US$0.46) for a 125mg
tablet, less than half the BMS price.
Nabi, a drugmaker based in Florida, US, has signed

two international distribution agreements for its
hepatitis B drug. Under the agreements, Biotech
Medical of Malaysia and Innovative Biotech of
Singapore will become distributors in their home
markets for Nabi-HB. The value of the deal and the
potential market size for the drug were not given.
Nabi-HB is approved in the US for prevention of
hepatitis B virus infection upon acute exposure. The
drug is a sterile solution of human antibodies.
Pharmaniaga ready for next step

Malaysian integrated healthcare company
Pharmaniaga says it will maintain the growth rates
of the last five years as it embarks on an expansion
strategy in Asia. Managing director Tan See Yin says
the company, which registered sales of RM 543
million (US$143 million) last year, has had a
compound annual growth rate in turnover of 25%
for the last five years. Tan says he is seeking to
position Pharmaniaga as a significant player in the
regional and global healthcare industry. As part of
that move, the firm has launched a new corporate
identity and logo.
MerLion the exception for venture funds

Singapores MerLion Pharmaceuticals says it has
almost completed a round of financing which will
give it at least S$18 million (US$10.2 million) in
funding from private investors. The announcement
comes as a survey released by law firm Rajah &
Tann shows that many firms are having great
difficulty finding cash. In a poll of 60 of Singapores
200 firms involved in the biomedical industry, over
60% said they were struggling to raise funds. Many
more said they were also having problems recruiting
top talent. MerLion was founded in July through the
privatization of Singapores Centre for Natural
Product Research (CNPR), a unit of the state-run
Institute of Molecular and Cell Biology. Under the
deal, it acquired all of CNPRs collection of plant
samples from Southeast Asia and the natural product
libraries of GlaxoSmithKline (see Issue 19, p4).
Pfizer Malaysia ready with three new drugs

The Malaysian subsidiary of Pfizer plans to market
new drugs for arthritis, migraine and mental disorder
in 2003, according to chief executive officer and
managing director Radzmi Rahmat. The company
head also said Viagra (sildenafil citrate) had
surpassed earlier forecasts in the three years since
it was introduced in the local market and the
company looked forward to continued strong
demand. He dismissed the threat of traditional herbal
medicine alternatives, saying they work in a different
manner.
Judge dismisses counterfeit drug claims

A Singapore High Court judge has dismissed claims
by a Chinese pharmaceutical company that two
Singapore outfits have misled consumers into thinking
that they are selling its products. The judge ruled
that the herbal medicine, which is supposed to stop
bleeding and heal wounds, had been sold in Singapore
for more than 20 years before the Chinese company
got its licence to manufacture its medicine. The
Yunnan Baiyao Group sued local firms Tong Jum
Chew and Tong Jum Chew Medical Store for passing
off the Camellia brand of Yunnan Paiyao as the
Chinese companys product. Judicial Commissioner
Choo Han Teck said that the local firms had not
attempted to mislead the public.
Bongso faces FEER factor

Ariff Bongso, a professor at the National University
of Singapore, has won Gold in the Far Eastern
Economic Reviews Asian Innovation Awards. Prof
Bongso and his team this year successfully grew a
human embryonic stem cell line without the use of
mouse cells. The work could eliminate one of the
risks of using stem cells in therapies the chance
that mouse pathogens will leap to humans.

Korea
HIV costing economy billions
LG Life in US$40 million GeneSoft

deal
HIV/AIDS is costing Korea around Won 240 billion

(US$195 million) a year in loss of labor, according to
a study by the Korea Institute for Health and Social
Affairs. The estimate, for 2001, includes both
absolute and potential loss of productivity. The figure
is well above the Won 193 billion (US$157 million)
estimate for 2000 and five times as high as in 1994.
In the first six months of 2002 the estimated loss
was Won 128 billion (US$104 million). The figures
are based on a calculation of the amount of workers
who would have contributed to gross domestic
product during their lifetime, if they had not acquired
HIV or contracted AIDS.
LG Life Sciences has signed a US$40.5 million deal

to transfer antibiotic-related technology to GeneSoft,
a California-based biopharmaceutical company. LG
Life, a pharmaceutical unit of the LG Group, also
agreed to receive 4.59 million shares of GeneSoft
a 14% stake in the US firm in return for the
technology transfer. The technology is related to the
production of Factive, a quinoline antibiotic. LG says
it will receive royalties once the product hits the
market. GeneSoft, in return, will have the right to
produce the drugs and sell them in the US and
European markets.
Why side-effects occur

South Korean researchers say they have identified
a key factor in the bodys rejection of transplanted
organs, raising hopes that the success rate of
transplant surgeries can be improved. A research
team, led by Dr Kim Sung-soo of Kyunghee
University, learned that cyclosporine, the antirejection medication organ recipients must take
indefinitely, leads indirectly to organ rejection. It is
the first such finding, the team says. Researchers
found cyclosporine suppresses the work of a
protective protein called cyclophilin-A, or CyPA. This
in turn causes serious side effects, such as
deterioration of the kidneys, liver and nervous system,
in some cases even leading to death.
In a separate move, LG Life has appointed

Malaysias DuoPharma Biotech to promote LGs
Hyal and Hyruan products in Malaysia. Hyal is a
visco-elastic solution used for intra-ocular surgery
while Hyruan is used as a lubricant for painful joints
and knees. DuoPharma aims to take a 20% share
of what it estimates to be a RM 8-10 million
(US$2.1-2.6 million) market.
Novartis sees Korea as biotech partner

Swiss multinational Novartis says it hopes to work
with South Korea in its mission to discover new cures
for diseases. Alexandre Jetzer, a member of the board
of directors at Novartis, in an interview with the
Korea Times, said he visited Korea last week to take
part in the 2002 Osong International Bio Exposition
and meet with scientists and government officials
regarding future investment projects in Korea. He
said he feels South Korea has many strong points in
the biotech industry which makes it attractive for
future investment, such as its high-quality human
resources.
Korean doctors to study longer

The presidential special commission to improve the
national medical system and the development of the
health industry has decided to change degree
programs at medical colleges to six years, up from
the current four. The changes will take place
gradually between 2005 and 2007.
PATENT DECISIONS AND PRODUCT APPROVALS

Company
Product
Result and Asian impact
Kawasumi Laboratories
K-Shield needle safety

device
US FDA approval. See page 2.
Dr Reddys Laboratories
Amlodipine maleate
US FDA issues approvable letter. Amlodipine maleate

the generic version of Pfizers Norvasc. See page8.


Korea
Company
Stock
Code
Exchange
Cho-A Pharm
Hanmi Pharm
Ahn Gook Pharm
Sam Sung Pharm
Sang-A Pharm
Daewon Pharm
Hanil Pharm
Daewoong Pharm
Handok Pharm
Jin Yang Pharm
Sama Pharm
Whan In Pharm
Hyundai Pharm
Dongsung Pharm
Kyungdong Pharm
Shin Poong Pharm
Kukje Pharm
Bukwang Pharm
Sam Chun Dang Phar
Kwangdong Pharm
Choong Wae Pharm
Yuhan
Pacific Pharmaceutic
Boryung Pharm
Il Sung Pharm
Yuyu
Je Il Pharm
Samyang Optics
Il Dong Pharm
Dong-A Pharm
Young Jin Pharm
Korea Green Cross
Dong Shin Pharm
Dongwha Pharm
Il-Yang Pharm
Orient
Shin Dong Bang
Sinil Pharm
Su-Heung Capsule
Mirae
Hanall Pharm
Chong Kun Dang
Sudo Pharm
Samjin Pharm
Macrogen
Samil Pharm
Keun Wha Pharm
Kuhm Pung Pharm
Daehan New Pharm
Hwail Pharm
34940
08930
01540
01360
06280
03220
03040
03090
02390
07370
09300
16580
04310
02210
11040
19170
02720
03000
00250
09290
01060
00100
16570
03850
03120
00220
02620
08080
00230
00640
03520
05250
06600
00020
07570
02630
04660
12790
08490
25560
09420
01630
04720
05500
38290
00520
02250
03060
54670
61250
Kosdaq
KSE
Kosdaq
KSE
KSE
KSE
KSE
KSE
KSE
Kosdaq
Kosdaq
KSE
KSE
KSE
Kosdaq
KSE
KSE
KSE
Kosdaq
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
KSE
Kosdaq
KSE
KSE
KSE
KSE
KSE
KSE
Kosdaq
KSE
KSE
KSE
Kosdaq
Kosdaq

Price (Won)
Price change since
Mkt Cap
Oct 25th Issue 24 1/1/02 1/1/01 (US$mil)
18,500
20,600
2,740
5,050
6,500
38,550
3,050
17,500
38,500
18,200
5,220
21,700
11,250
4,915
7,850
12,650
6,400
4,690
1,480
1,000
7,710
54,100
11350
12,350
14,800
18,000
22,600
1,165
8,500
18,350
1,915
24100
9000
6,800
3,800
5,120
860
1,300
7870
1,550
6950
2,085
5,060
46,000
7940
30500
13,200
415
3,200
8,900
6.6%
14.4%
-0.4%
-1.8%
-5.1%
-3.7%
3.0%
0.0%
2.1%
4.0%
11.1%
3.3%
6.1%
2.4%
3.7%
-10.9%
1.6%
5.9%
4.2%
4.7%
5.6%
3.0%
3.7%
2.5%
10.0%
-1.6%
-1.3%
1.3%
6.3%
3.7%
11.3%
-2.2%
15.4%
1.9%
1.3%
2.4%
-2.3%
4.0%
10.8%
9.9%
2.7%
1.0%
3.3%
12.3%
4.1%
13.0%
26.9%
-15.3%
21.7%
-39.2%
101.1%
60.3%
60.2%
49.0%
34.6%
24.0%
17.3%
14.4%
11.3%
4.0%
-1.9%
-2.0%
-3.8%
-4.0%
-4.3%
-7.0%
-9.3%
-11.0%
-11.1%
-11.1%
-11.4%
-13.4%
-16.5%
-16.6%
-17.3%
-17.4%
-18.3%
-18.8%
-20.9%
-21.7%
-23.4%
-23.6%
-25.0%
-26.0%
-26.2%
-27.4%
-28.9%
-31.9%
-32.2%
-32.3%
-32.5%
-33.6%
-38.3%
-40.3%
-43.7%
-44.6%
-49.4%
-55.9%
-57.9%
-70.1%
50.4%
180.7%
166.0%
129.5%
76.2%
127.8%
131.1%
117.9%
78.2%
40.5%
41.8%
-21.8%
23.4%
19.6%
22.7%
115.9%
-4.9%
3.1%
N/A
29.9%
31.5%
56.1%
N/A
7.9%
80.5%
-54.4%
85.2%
-75.7%
68.7%
60.0%
-80.7%
N/A
63.6%
10.1%
-15.3%
-24.5%
-47.6%
3.2%
N/A
18.3%
45.1%
-49.3%
-55.2%
-0.9%
N/A
N/A
-34.0%
-87.4%
N/A
N/A
37
113
2
21
26
36
12
157
36
10
28
34
26
14
39
39
13
86
26
43
38
293
19
27
32
17
27
10
24
137
20
95
34
31
22
7
42
9
38
157
17
20
12
82
29
27
23
9
16
26

India
Shantha looks for US$25 million
Dr Reddys to appeal one decision,

applauds two others
Shantha Biotech is planning to raise US$25-30 million

by privately placing around 26% of its equity with a
strategic investor. The firm says 16 companies are
bidding for a slice and a deal is expected by early
November. The proceeds will be used to set up a
manufacturing facility in Hyderabad next to the firms
exisitng operations. Plans for an overseas listing have
been delayed because of the global economic climate,
says the firm.
Dr Reddys Laboratories says it will appeal a US

court decision that it infringed AstraZenecas patents
on Prilosec. The court ruled that a generic made by
KUDCo, a unit of Germanys Schwarz Pharma, did
not infringe the patents but that the Dr Reddys
version and those of two other manufacturers did
(see Issue 24, p 8).
Lilly shines on Sun
Meanwhile, the US FDA has given an approvable

letter for a new drug application (NDA) submitted
by Dr Reddys for amlodipine maleate, a generic
version of Pfizers US$2.5 billion a year drug
Norvasc. That means Dr Reddys is close to
launching the drug for hypertension and angina. Final
approval is contingent upon the completion of ongoing
discussions the company has with the FDA regarding
specific chemistry manufacturing controls and
product labelling. The approval is also contingent upon
the outcome of patent-term extension litigation with
Pfizer, the patent holder for the drug.
Eli Lilly has entered into an alliance with Sun

Pharmaceuticals under which Sun will start
manufacturing Lillys cardiovascular drugs for the
export and domestic Indian markets. The deal marks
another stage in the relationship of the two companies:
Sun already manufactures Lillys anti-diabetic
products. Lilly also works with Chennai-based Austin
Shasun for the manufacture of anesthesia, anti-TB
and peptic ulcer drugs. In a separate move, Lilly has
launched its sepsis drug, Xigris (drotrecogin alfa), in
India. The drug will be sold for Rs 500,000
(US$10,337) a dose. It is already sold in the US and
Australia, and is awaiting approval in Europe.
Dr Reddys has additionally been included by Forbes

Global in a list of the 200 Best Small Companies in
the World. India had more companies than any other
Asian nation on the list, with 12 firms mentioned.
AT A GLANCE
Sepsis
Ranbaxy enters South African HIV market

Around 1,400 people die every day in the world from
sepsis. The illness accounts for 70% of all deaths in
intensive care in the US.
Ranbaxy has set up a 50:50 joint venture with Adcock

Ingram to sell Ranbaxys range of anti-retroviral
products in South Africa. The country is estimated
to have 5 million sufferers of HIV.
Source: Eli Lilly
CORPORATE RESULTS
Company
Period/end
Revenue
Increase
Net income
Increase
Ranbaxy Laboratories
3Q/Sep 02
9M/Sep 02
166.3
428.3
+49%
+40%
33.0
81.2
+79%
+107%
Dr Reddys Laboratories
2Q/Sep 02
6M/Sep 02
91.8
169.2
-14%
+1%
20.5
37.1
-31%
-9%
Morepen Laboratories
2Q/Sep 02
6M/Sep 02
30.6
57.8
+24%
+18%
3.5
5.5
+26%
+26%
(Note: all figures in US$millions)


India
Company
Stock
Code
Exchange
Bal Pharma
Reckitt & Coleman
Bayer India
AstraZeneca India
JB Chemicals
FDC
Torrent Pharma
Ranbaxy Laboratories
Knoll
GlaxoSmithkline
Unichem Labs
Burroughs Wellcome
Bayer Diagnostics
Abbott Laboratories
Duphar-Interfran
Wyeth Lederle
Shasun Chemicals
Novartis
Lupin Laboratories
Sun Pharmaceuticals
Nicholas Piramal
Aurobindo Pharma
Orchid Chemical
Wockhardt
Pfizer
Cadila Healthcare
Merck India
Procter & Gamble
Aventis Pharma
Cipla
Dr Reddys Labs
Jagsonpal Pharma
Ajanta Pharm
Morepen Laboratories
BALP
RCKT
BAYE
ASTR
JBCH
FDC
TORP
RANB
KNOL
GLAX
UNLB
BURR
BDIL
ABBT
DUPH
WLED
SHAS
NOIN
LUPN
SUN
NICH
ARBN
ORCD
WCKH
PFIZ
CADI
MERK
PROC
AVPH
CIPL
REDY
JGSN
AJPH
MORL
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Bombay
Price (Rs)
Oct 25th
21
241
1,400
367
169
27
185
546
293
327
209
191
239
150
120
221
67
208
91
563
216
213
62
443
396
114
238
380
320
855
688
92
36
31
Price change since

Issue 24
1/1/02
1/1/01
9.2%
0.0%
-5.4%
0.0%
2.9%
-7.0%
1.0%
-4.2%
3.8%
-9.5%
-12.7%
-5.3%
-2.4%
-1.4%
0.0%
-8.3%
-4.8%
-8.4%
-4.6%
0.9%
1.0%
2.9%
-3.6%
-5.9%
-5.3%
-0.3%
-4.0%
-8.1%
-3.2%
-12.3%
-16.8%
-9.3%
-4.2%
-12.7%
88.6%
70.2%
60.0%
49.8%
40.0%
35.5%
35.0%
25.5%
23.5%
13.9%
13.6%
11.5%
7.7%
7.2%
3.4%
2.8%
2.2%
-0.9%
-1.1%
-1.8%
-3.6%
-6.5%
-8.4%
-8.4%
-11.0%
-11.7%
-13.8%
-16.5%
-23.2%
-24.4%
-25.5%
-29.5%
-39.8%
-48.9%
38.3%
-8.2%
136.1%
-6.4%
35.5%
22.1%
5.7%
28.9%
-16.1%
-28.0%
10.0%
-34.7%
1.7%
-44.0%
-64.8%
-30.9%
-15.2%
-60.3%
-58.8%
4.6%
-39.8%
-57.1%
-40.1%
4.0%
-35.1%
-28.5%
-45.0%
-45.3%
-31.6%
-38.5%
9.3%
-84.4%
-65.6%
-74.5%
ASIAN MEDICAL INDUSTRY NEWS KEEP UP TO DATE

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Calendar
WHEN
WHAT
WHERE
DETAILS
October 31st
10th International Healthcare

Show 2002
Kuala Lumpur,
Malaysia,
c/o Reed Exhibitions Sdn Bhd,

Suite 312, Block F,
Phileo Damansara 1, Jalan 16/11
46350 Petaling Jaya, Selangor
Tel: 603-7660 3766
Fax:603-7958 1800
Email: ihs@reedexpo.com.my
www.hospitals-malaysia.org
Nov 1st-2nd
Korean Society of Anesthesiologists Seoul, Korea
Deok Kim, MD
Tel: 011-82-2-760-2460
Fax: 011-82-2-744-1155
Nov 8th-10th
10th MASEAN Mid-term Meeting
Singapore
Secretary-General
Singapore Medical Association,
No. 2 College Road,
Alumni Medical Centre, Level 2
Tel: 65-6223 1264
Fax: 65-6224 7827
Email: masean@masean.org
Website: www.masean.org
Nov 9th-12th
MediPhar Taipei - 14th Taipei

International Medical Equipment
and Pharmaceuticals Show
Taipei, Taiwan
Ms Irena Chang, Project Manager

Exhibition Section 3,
Exhibition Department,
CETRA,
Room 2A08, 5 Hsin-yi Road,
Sec. 5, Taipei 110
Tel: 886-2-27251111 ext. 636
Fax: 886-2-27253501
Email: mediphar@cetra.org.tw
www.taipeitradeshows.com.tw/mediphar/
Nov 10th-13th
12th International Symposium on

Tokyo, Japan
Brain Edema and Brain Tissue Injury
Bilingual Group Ltd,

2nd Fl., 4-7-22, Kudan-Minami,
Chiyoda-ku, Tokyo 102-0074
Tel: 03-3263 1261
Fax: 03-3263 1264
Email: edema2002-office@umin.ac.jp
URL:square.umin.ac.jp/edema/
Nov 11th-12th
4th Asia Pacific Pharmaceuticals

Round Table
Beijing, China
Helen Yu,
Conference Operations Manager,
Economist Conferences, Hong Kong
Tel: +852 2585 3316
asiapacific_customerservice@
economist.com
Nov 14th-17th
7th Asian Congress of Sexology
Singapore
Tel: +65 772 4261

Fax: +65 779 4753
Email: obgadaik@nus.edu.sg

10

Calendar
WHEN
WHAT
WHERE
DETAILS
Nov 21st-26th
Digestive Diseases Week India
Kerala, India
Dr Philip Augustine,
Lakeshore Hospital & Research Ctr
NH 47 Bye Pass, Maradu,
Nettoor PO, Cochin 682-304, Kerala
Tel: 91-484 701032/701033
Fax: 91-484 701996
Email: ddwindia@hotmail.com
Nov 26th-30th
4th Asian Congress of

Neurological Surgeons
SAR Hong Kong
Miss Anthea Luk

Tel: +852 21117574
Fax:+852 21110132
Email: info@Asiancns.org
Website: www.Asiancns.org
Dec 1st-6th
10th APLAR Congress of

Rheumatology
Bangkok, Thailand
Thai Rheumatism Association,

9th Floor, Royal Golden Jubilee Bldg
2 Soi Soonvijai, New Petchburi rd,
Bangkok, 10310, Thailand
Tel: 66-2-716 6524
Fax:66-2-716 6525
Email: thairheum@hotmail.com
Email: aluvs@diamond.mahidol.ac.th
Website:www.aplar2002.com
December 2nd
World Congress on
Immunopathology
Singapore
Dr. T. Slavyanskaya
16/10 Miklukho-Maklaya Street
117997 Moscow, Russia
Tel: 7-095-336 5000 / 7-095-429 9620
Fax: 7-095-336 5000
Email: acicis@ibch.ru
Website: www.isir.ru
Dec 4th-7th
International Congress on
Biomedical and Medical
Engineering
Singapore
Integrated Meetings Specialist Pte

Lee Kai House Building,
114 Middle Road,
#05-01 Singapore 188971
Tel: 65-226 3069
Fax: 65-226 3016
Email: inmeet@inmeet.com
Feb 19th-22nd
12th World Congress on Cardiac

Pacing and Electrophysiology
SAR Hongkong
Dr Tse Tak-fu
Tel: +852 2527 8285
Fax: +852 2865 0943
Aug 13th-16th
NephroAsia 2003
Singapore
Philip Paul
International Marketing Manager,
World Kidney Fund
National Kidney Foundn Singapore
81 Kim Keat Road
Email: philip.paul@nkfs.org
2003

11

Companies
Companies mentioned
Adcock Ingram ............................................................. 8
AstraZeneca .............................................................. 2,8
Austin Shasun .............................................................. 8
Banyu Pharmaceutical ................................................... 2
Biotech Medical ............................................................ 5
Bristol-Myers Squibb .................................................... 5
Chugai Pharmaceutical .................................................. 2
Dr Reddys Laboratories ............................................ 6,8
DuoPharma Biotech ...................................................... 6
Eli Lilly .......................................................................... 8
GeneSoft ....................................................................... 6
GlaxoSmithKline ....................................................... 2,4,5
GPO ............................................................................... 5
Green Cross ................................................................... 2
Innovative Biotech ....................................................... 5
Kawasumi Laboratories .............................................. 2,6
Kissei Pharmaceutical ................................................... 2
KUDCo ......................................................................... 8
LaserSight ..................................................................... 4
LG Life Sciences ............................................................ 6
MerLion Pharmaceuticals .............................................. 5
Mitsubishi Pharma ........................................................ 2
Morepen Laboratories .................................................. 8
Nabi ............................................................................... 5
Nihon Seiyaku ............................................................... 2
Novartis ..................................................................... 2,6
Pharmaniaga .................................................................. 5
Pfizer .......................................................................... 5,8
Ranbaxy Laboratories ................................................... 8
Roche Holdings ............................................................ 2
Shantha Biotech ............................................................ 8
Schwarz Pharma ............................................................ 8
Shenzhen New Industries Medical Development ......... 4
Sun Pharmaceuticals ..................................................... 8
Tanabe Seiyaku ............................................................. 2
Tong Jum Chew ............................................................. 5
Yunnan Baiyao .............................................................. 5
Exchange rates used in this issue

Currency ................................................. Rate per US$
British Pound Sterling () ........................................ 0.64
Chinese Yuan .......................................................... 8.28
Euro ......................................................................... 1.02
Hong Kong Dollar (HK$) ........................................ 7.80
Indian Rupee (Rs) ................................................. 48.37
Indonesian Rupiah ................................................ 9,200
Japanese Yen () .................................................. 124.32
Korean Won .......................................................... 1,232
Malaysian Ringgit (RM) ......................................... 3.80
Singapore Dollar (S$) .............................................. 1.77
Taiwanese Dollar (NT$) ......................................... 34.80
Thai Baht .............................................................. 43.42

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Kyunghee University (Korea) ....................................... 6
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Issue No. 25 October 28th 2002

Proof 100 Limited

Dr Reddys to appeal one decision, applauds two others ............. 8

ASIAN MEDICAL INDUSTRY NEWS

Kawasumi approved for needle device

The Japanese health ministry has attributed 13 deaths

Kawasumi Laboratories America, a Florida-based

Hepatitis victims sue pharma firms

Chugai widens forecast loss

Glaxo to work with Kissei

Banyu slashes profit forecast

Tanabe ties up with Novartis on antagonists

US prods Japan on pharma reform

Asian Medical Industry News

ASIAN MEDICAL INDUSTRY NEWS

Asian Medical Industry News

China, US and Glaxo work together

Cardiovascular epidemic on the way

The three-year study consists of a collaborative effort

Cardiovascular illness is due to reach epidemic

Shenzhen buys into LaserSight

Taiwan legislators reject biotech park

China gives birth to digitized man

Asian Medical Industry News

US firm heads for Malaysia and Singapore

Thailands state drug-making agency says it will begin

Nabi, a drugmaker based in Florida, US, has signed

Pharmaniaga ready for next step

MerLion the exception for venture funds

Pfizer Malaysia ready with three new drugs

Judge dismisses counterfeit drug claims

Bongso faces FEER factor

Asian Medical Industry News

LG Life in US$40 million GeneSoft

HIV/AIDS is costing Korea around Won 240 billion

LG Life Sciences has signed a US$40.5 million deal

Why side-effects occur

In a separate move, LG Life has appointed

Novartis sees Korea as biotech partner

Korean doctors to study longer

PATENT DECISIONS AND PRODUCT APPROVALS

Result and Asian impact

K-Shield needle safety

US FDA approval. See page 2.

US FDA issues approvable letter. Amlodipine maleate

Published by Proof 100 Ltd. For a free subscription,

Asian Medical Industry News

Published by Proof 100 Ltd. For a free subscription,

Asian Medical Industry News

Dr Reddys to appeal one decision,

Shantha Biotech is planning to raise US$25-30 million

Dr Reddys Laboratories says it will appeal a US

Lilly shines on Sun

Meanwhile, the US FDA has given an approvable

Eli Lilly has entered into an alliance with Sun

Dr Reddys has additionally been included by Forbes

Ranbaxy enters South African HIV market