China’s Mindray Refutes Merit Of Report That Sent Stock Plummeting
This article was originally published in PharmAsia News
Mindray stock recovers from freefall after allegations that China’s leading medical device company overstated its earnings and engaged in fraudulent accounting practices.
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SHANGHAI - Shenzhen-based Mindray Medical International saw strong international growth through its acquisition of American Datascope's patient monitoring business in May, the company said in a second quarter earnings call Sept. 4
China's State Intellectual Property Office (SIPO) is drafting a new regulation on "service innovation" to encourage companies and researchers in the country to raise their investment in, and the conduct of, innovation. However, the move may also have an impact on the soaring drug discovery industry in China as it will mean higher payments to inventors with knock-on effects on local drug discovery and CROs.
China is planning a new regulation on company employees’ “service innovation” designed to encourage inventors and invention in the country, which are seen as important contributors to economic growth. However, the new rules could also have a significant impact on the conduct of drug discovery research in China.