The Weekly News Update is a weekly roundup of business news from around the Asia-Pacific region, covering Fusion Consulting's core industry practices: chemicals, consumer & retail, financial services, industrial & logistics, information & communication technology, life science and media & leisure. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.  Life science

Japan - Nagase takes over RNAi biotech venture iGene Source: Japan Chemical Week, 01 May 2008 Nagase & Co. has purchased all the issued shares of iGene Therapeutics, making the Tokyo-based biotechnology startup its wholly owned subsidiary and facilitating its entry into the business of drug-discovery support. The acquisition gives Nagase access to the ribonucleic acid interference, or RNAi, technologies held by iGene, a venture company authorized by the National Institute of Advanced Industrial Science and Technology, or AIST. Since the global RNAi-related market is projected to have a value of Y1.5 trillion (US$14.9 billion) in 2015, Nagase wants to nurture it as a business with high added value together with such group companies as Nagase ChemteX, headquartered in Osaka. India - Novartis Voveran regains top position in drug sales Source: Business Standard, 05 may 2008 Voveran, Novartis India's flagship pain killer medicine, has become the largest selling domestic drug with sales of more than Rs110 million (US$2.7 million) in March 2008, displacing Pfizer India's cough and cold syrup Corex, which had sales of Rs100 million (US$2.4 million). Cipla, on the other hand, maintained its leadership position as the largest domestic pharmaceutical company edging out Ranbaxy Laboratories with a market share of 5.2% for March 2008. The value of domestic pharmaceutical market stands at Rs320.9 billion (US$7.8 billion), according to the March 2008 data. Valuewise, the market slowed down by 14.7% as compared with a growth of 19.8% in February 2007. Korea - Biotechnology sector remains a key focus Source: Pharma Business Week, 05 May 2008 In BMI's new Business Environment Rankings for Q2 2008, South Korea ranks third out of 14 markets assessed, below Japan and Australia, which rose to pole position from third in the previous period. Despite slipping one place, South Korea remains one of the most attractive regional markets. Key drivers of growth are high per capita consumption, high prices of pharmaceuticals, an aging population, lack of public awareness of generic substitution rules and improved conditions. Overall, the industry landscape has been dynamic, with a number of deals taking place towards the end of 2007. The biotechnology sector remains a key focus, with the government committing US$60 billion per annum across various segments. South Korea aims to be among the top 10 biotechnology powerhouses in the coming years, having been ranked 14th in the 2000-2004 period. Multinational companies are recognising the potential for growth in the sector.     View an example of our experience in this industry. Back to list of articles.  Visit our new website to sign up for free intelligence on Asian markets.

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