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Biocon to Make Three Generic Drugs for Hard-Selling in China

The 10-year agreement envisages Biocon to supply the products to CMS for selling in mainland China

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Biocon, Drugs, China
We have signed an agreement with the subsidiary of China Medical System Holdings Ltd (CMS) to develop, manufacture and supply three generic drugs in the Chinese market. Pixabay

Biotechnology major Biocon would make three generic drugs for hard-selling in China through partnership, the company said on Saturday.

“We have signed an agreement with the subsidiary of China Medical System Holdings Ltd (CMS) to develop, manufacture and supply three generic drugs in the Chinese market,” the city-based firm said in a statement.

The 10-year agreement envisages Biocon to supply the products to CMS for selling in mainland China.

“The foray into China is a part of our long-term generic formulations strategy to expand our business in the Chinese pharmaceuticals market,” said the statement.

Biocon, Drugs, China
Biotechnology major Biocon would make three generic drugs for hard-selling in China through partnership, the company said on Saturday. Pixabay

As the world’s second largest pharma market, the addressable market size for the three drugs is about $800 million (Rs 5,680 crore), according to IQVIA, a US multinational firm that serves health IT and clinical research.

“The collaboration with CMS will allow us to take our US approved generic formulations to patients in China with an early entry,” said Biocon Chief Executive Arun Chandavarkar in the statement.

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The company, however, did not specify the diseases which the three generic drugs will aim to treat. (IANS)

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Restricting AI Research with China Harmful: Microsoft CEO Satya Nadella

If those tariffs are implemented, virtually all Chinese imports would be subject to punitive taxes

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China is a leading force in Artificial Intelligence (AI) technology and blocking AI research with the country will do more harm than good for humanity, Microsoft CEO Satya Nadella said.

In an interview with the BBC, Nadella said that despite national security concerns, backing out of China would “hurt more” than it solved.

“A lot of AI research happens in the open and the world benefits from knowledge being open,” he said.

Quoting Microsoft President Brad Smith, Nadella said: “We know any technology can be a tool or a weapon. The question is, how do you ensure that these weapons don’t get created? I think there are multiple mechanisms.”

Microsoft Research Asia, the company’s fundamental research arm in the Asia Pacific region, was founded in Beijing in November 1998.

The media reported in April alleged that Microsoft has been collaborating with researchers linked to a Chinese military-backed university on AI. The research covered several AI topics, such as face analysis and machine reading.

Microsoft defended the research, saying that it was part of a worldwide effort by its scientists “to work with their international counterparts on cutting-edge technology issues”, reported the Financial Times.

Microsoft
Microsoft doesn’t use customers’ data for profit: Satya Nadella. (Wikimedia Commons)

According to Nadella, they have control on who gets to use their technology.

“And we do have principles. Beyond how we build it, how people use it is something that we control through Terms of Use. And we are constantly evolving the terms of use,” he added.

The International Monetary Fund has said that the trade war between the US and China was triggering a global economic slowdown.

On September 1, the US followed through on plans to impose a 15 per cent tariff on certain Chinese consumer-goods imports including apparel, electronics, footwear and dairy products, that were valued at around $112 billion in 2018.

Those tariffs were in addition to 25 per cent tariffs on $250 billion worth of Chinese imports that began to be imposed on July 2018.

Also Read: iPhone 11 Pro: Seamless Productivity with Creativity (Tech Review)

US President Donald Trump’s administration said that it would wait until December 15 to impose tariffs, now set at 15 per cent, on certain mass-consumption products imported from China, including smartphones, laptops, video games and toys.

If those tariffs are implemented, virtually all Chinese imports would be subject to punitive taxes. (IANS)