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Early-stage venture capital funding in China continued to rise in Q3, while big Chinese companies are investing in foreign firms with an eye on access to new products and market expansion. Several healthcare funds were also set up to tap into emerging opportunities.
Betta Pharmaceuticals hopes strategic initiatives overseas will facilitate its diversification away from a single dominant oncology product. The Chinese firm is facing increasing competition from domestic generics, with revenues and profits under pressure.
R&D-based big pharma groups in China with sufficient cash flow are increasing their strategic investments in overseas companies and products with an eye on entry to the global market, while start-ups continue to actively raise new funds from venture capitalists.
Roche's Alecensa has bested Pfizer's Xalkori in the Phase III head-to-head ALEX study in first-line non-small-cell lung cancer, making a strong case for it to be the new gold standard therapy in ALK-positive patients, in favor of Novartis's Zykadia.
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