| Date: |
Jan 01, 2009 |
| Type: |
SABPA in Media |
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SABPA |
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| Source: |
GEN News |
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Jan 1 2009 (Vol. 29, No. 1)
Cautious Optimism Prevails for Chinese Biotechnology
Government’s Commitment and Return of “Sea Turtles” Buoy the Industry
By Gail Dutton
The Chinese word for “crisis” is composed of two characters—one for danger and one for opportunity. That analogy sums up, not only the current global situation, but the situation for biotechs in China too, according to speakers at the recent “Pacific Forum on Life Science Alliances,” sponsored by the Sino-American Biomedical and Pharmaceutical Professionals Association (SABPA).
The tainted milk scandal in 2008 is a good example, according to C.J. Wang, Ph.D., vp of business development for Vivus. Stressing that these are only his personal views, he said, “the tainted milk disaster was bad, but it was also an opportunity. In its aftermath, instrument sales surged. Firms used to have difficulty selling their expensive instruments in China. Now, orders come in large quantities,” to allow companies to perform food analyses. But, Dr. Wang emphasized, “You have to be there to really understand the market and see the opportunities.”
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