China to cut prices of expensive patent drugs

China's health authority on Friday announced cuts of over 50 percent in the prices of three patent drugs. The National Health and Family Planning Commission said through pharmaceutical manufacturers have agreed to lower some drugs' prices on condition of bulk purchase. GlaxoSmithCline (GSK) will reduce the price of Tenofovir Disoprox, a treatment for hepatitis B, from 1,500 yuan ($229) to 490 yuan per month. Icotinib, an anti-cancer drug made by China's Betta Pharmaceuticals, will be dropped from 12, 000 yuan to 5,500 yuan for a month's supply. Astra…

Beijing: China's First Data Loan Issued

Difficulty in getting financing has been plaguing many enterprises, especially small and mid-sized innovative start-up businesses. Recently, a new idea of using data assets as collateral came up to solve the problem. China's first data loan was issued. Traditional enterprises have fixed assets like workshops, but more enterprises now have a significant number of intangible assets, including patents. Many industry insiders used to think it unlikely that they could get loans based on data asset evaluation. However, a Zhongguancun data asset evaluation center and the global information study …

Jack Ma cancels speech after row with anti-counterfeiting group

Jack Ma, chairman of Alibaba Group Holding Ltd, has canceled a speech at an anti-counterfeiting conference in the United States after the trade group behind it suspended the e-commerce giant's recently gained membership. Alibaba has been dogged for years by accusations that its online shopping platforms were conduits for counterfeiters and critics say it has not done nearly enough to stop the problem. At least three members of the Washington-based International Anti-Counterfeiting Coalition, including board member Tiffany & Co, quit the group in protest and others threatened to leave after A…