Driven mainly by new launches and underlying economic growth, Bayer is bullish over the prospects for its Asia-Pacific pharma business, predicting continued mid-term expansion ahead of the overall market.

Hayward, California-based antibiotics developer MicuRx Pharmaceuticals raised $25 million in a Series B venture capital round to fund a Phase II clinical trial in the US for its next-generation oral oxazolidinone MRX-I, which already is under evaluation in Phase II trials in China.

Australian firms continue to carve a place in their home market – some more successfully than others.

Speculation is continuing to swirl around the possible acquisition of the privately held Australian firm iNova Pharmaceuticals by a large pharma company, although no transaction has been confirmed.