Latest news with #AstellasPharma
Nikkei Asia
a day ago
- Politics
- Nikkei Asia
China's jailing of Astellas employee could have gone differently: ex-envoy
Former Japanese ambassador to China, Hideo Tarumi, said he believes the people of both countries will continue to support each other, as they have throughout history. © Reuters KENJI KAWASE TOKYO -- The sentencing of a Japanese employee of Astellas Pharma on espionage charges by a Beijing court on Wednesday could have had a different outcome, says Hideo Tarumi, a former Japanese ambassador to China. The verdict has shocked those who work in or deal with China.
Yahoo
2 days ago
- Business
- Yahoo
Astellas and KISED link to support Korean pharma startups
Astellas Pharma has entered a memorandum of understanding (MoU) with the Korea Institute of Startup and Entrepreneurship Development (KISED) to support Korean pharmaceutical startups' global growth. Astellas and KISED will operate the Partnership with Global Companies Program, which aims to identify these startups in Korea. Astellas chief research and development officer Tadaaki Taniguchi stated: 'We are very pleased to agree on an MoU with KISED for the operation of the Partnership with Global Companies Program. 'Astellas is committed to fostering innovation in collaboration with startups by providing the knowledge and expertise we have gained through our research and global network. We expect that the signing of this MoU will further strengthen and accelerate drug discovery research together with Korean startups, ultimately contributing to the creation of innovative medical solutions.' KISED will oversee management and provide research funding for the programme. Astellas will offer selected Korean drug-discovery startups access to facilities at SakuLab-Tsukuba within its Tsukuba research centre. These startups will benefit from consultations with Astellas experts and opportunities to expedite their drug discovery research by networking with other residents and researchers at the company. The initiative has already seen two Korean pharma and biotech firms chosen for collaboration: TCUBEiT, focusing on next-generation T-cell-based immunotherapy, and AAVATAR Therapeutics, specialising in AAV viral vector engineering technology. Both companies will commence an intensive collaborative phase by establishing operations at SakuLab-Tsukuba. In May 2025, Astellas Pharma entered an exclusive licensing agreement with Evopoint Biosciences for XNW27011, a clinical-stage antibody-drug conjugate (ADC) that targets Claudin18.2 (CLDN18.2). Astellas agreed to pay Evopoint $130m upfront and up to $70m in near-term payments along with development, commercialisation and regulatory milestone payments totalling up to $1.34bn, and royalties on the ADC's net sales if approved. "Astellas and KISED link to support Korean pharma startups" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
2 days ago
- Business
- Yahoo
Factbox-Foreign firms' executives entangled in Chinese probes
BEIJING (Reuters) -U.S. bank Wells Fargo has suspended all travel to China after one of its employees was barred from leaving the country, extending a trend of foreign executives caught up in probes by authorities that has chilled business sentiment. Below are some other recent examples: - A Beijing court this week sentenced a Japanese employee of Astellas Pharma to 3-1/2 years in prison. The man had been detained since March 2023 on suspicion of spying and had been indicted about a year ago. - In March, Chinese authorities released employees of U.S. corporate due diligence firm Mintz Group detained in Beijing two years ago. Five of the firm's local staff were detained in a raid that turned out to be the beginning of a sweeping crackdown on consultancy and due diligence firms, including Bain & Company's office in Shanghai. A Singaporean executive at Mintz was also prevented from leaving China, sources told Reuters. China fined Mintz about $1.5 million in July 2024 for doing "unapproved statistical work". - Anglo-Swedish pharmaceutical firm AstraZeneca saw its China president Leon Wang detained and placed under investigation in 2024, with little information about what the probe was about. Wang, who grew up in China, was a high-profile executive often quoted in the Chinese business press. AstraZeneca's CEO said in February that the company was not permitted to speak with Wang, who has been placed under extended leave since December. Chinese media had reported that AstraZeneca was under probe since 2021, suspected of fabricating genetic testing results related to the firm's lung cancer drug Tagrisso and of insurance fraud. - A senior Nomura Holdings banker overseeing the Japanese firm's investment banking operations in China was ordered not to leave the mainland, sources told Reuters in late 2023. The exit ban was lifted the following year allowing Charles Wang Zhonghe, China investment banking chairman at Nomura, to return to Hong Kong, where he was previously based, according to the Financial Times. - Michael Chan, a senior executive at U.S. risk advisory firm Kroll, was barred from leaving the Chinese mainland, the Wall Street Journal reported in September 2023. The Hong Kong passport holder was assisting in an investigation dating back a few years, the newspaper reported, citing people familiar with the matter. Neither Kroll nor Chan was the target of the investigation, according to the newspaper. - A Singapore-based UBS wealth manager was prevented from leaving China in 2018. The executive was asked to remain in the country to meet with local authorities, Reuters reported at that time. The uncertainty surrounding the exit ban on the wealth manager had led the Swiss bank and several of its rivals to require their private banking staff to carefully consider trips to China.
Reuters
2 days ago
- Business
- Reuters
Foreign firms' executives entangled in Chinese probes
BEIJING, July 18 (Reuters) - U.S. bank Wells Fargo (WFC.N), opens new tab has suspended all travel to China after one of its employees was barred from leaving the country, extending a trend of foreign executives caught up in probes by authorities that has chilled business sentiment. Below are some other recent examples: - A Beijing court this week sentenced a Japanese employee of Astellas Pharma (4503.T), opens new tab to 3-1/2 years in prison. The man had been detained since March 2023 on suspicion of spying and had been indicted about a year ago. - In March, Chinese authorities released employees of U.S. corporate due diligence firm Mintz Group detained in Beijing two years ago. Five of the firm's local staff were detained in a raid that turned out to be the beginning of a sweeping crackdown on consultancy and due diligence firms, including Bain & Company's office in Shanghai. A Singaporean executive at Mintz was also prevented from leaving China, sources told Reuters. China fined Mintz about $1.5 million in July 2024 for doing "unapproved statistical work". - Anglo-Swedish pharmaceutical firm AstraZeneca (AZN.L), opens new tab saw its China president Leon Wang detained and placed under investigation in 2024, with little information about what the probe was about. Wang, who grew up in China, was a high-profile executive often quoted in the Chinese business press. AstraZeneca's CEO said in February that the company was not permitted to speak with Wang, who has been placed under extended leave since December. Chinese media had reported that AstraZeneca was under probe since 2021, suspected of fabricating genetic testing results related to the firm's lung cancer drug Tagrisso and of insurance fraud. - A senior Nomura Holdings (8604.T), opens new tab banker overseeing the Japanese firm's investment banking operations in China was ordered not to leave the mainland, sources told Reuters in late 2023. The exit ban was lifted the following year allowing Charles Wang Zhonghe, China investment banking chairman at Nomura, to return to Hong Kong, where he was previously based, according to the Financial Times. - Michael Chan, a senior executive at U.S. risk advisory firm Kroll, was barred from leaving the Chinese mainland, the Wall Street Journal reported in September 2023. The Hong Kong passport holder was assisting in an investigation dating back a few years, the newspaper reported, citing people familiar with the matter. Neither Kroll nor Chan was the target of the investigation, according to the newspaper. - A Singapore-based UBS (UBSG.S), opens new tab wealth manager was prevented from leaving China in 2018. The executive was asked to remain in the country to meet with local authorities, Reuters reported at that time. The uncertainty surrounding the exit ban on the wealth manager had led the Swiss bank and several of its rivals to require their private banking staff to carefully consider trips to China.
South China Morning Post
2 days ago
- Politics
- South China Morning Post
Japanese traveller anxiety soars amid China's espionage arrests
The arrest and prosecution of Japanese citizens in China is fuelling public anxiety and deterring travel, Japan 's government has warned, as academics and businesspeople said they were either taking precautions or avoiding visits altogether. Tokyo expressed its concern about deteriorating relations on Wednesday after a court in Beijing sentenced a Japanese employee of pharmaceuticals manufacturer Astellas Pharma to three years and six months in prison for espionage. The man, who has not been named but is reported to be in his sixties, was initially detained in March 2023 as he prepared to leave China after working in the country. He was indicted last August , and the first hearing in his case took place three months later. The sentencing hearing on Wednesday was not open to the press, but officials from the Japanese embassy in Beijing were permitted to attend, Jiji Press reported. 'It is extremely regrettable that a guilty ruling was issued,' Japanese ambassador to China Kenji Kanasugi told reporters after the hearing. 'We will continue to call strongly for his early release while supporting him as much as we can.' Japanese Ambassador to China Kenji Kanasugi (centre) speaks to reporters in Beijing on Wednesday after a court jailed a Japanese man for spying. Photo: Kyodo Speaking later in the day in Tokyo, a foreign ministry spokesman said the arrest of Japanese nationals 'has become one of the major obstructive factors for people-to-people exchanges … and improvements in public sentiment', as quoted on Jiji Press.
