Biacore launches its Own Operation in China.STOCKHOLM, Sweden -- Own sales and marketing organization will enhance company's ability to capture this high growth market opportunity Uppsala, Sweden, 11th May, 2006. Biacore International AB (Biacore) (STO:BCOR) announced today that it has formally launched its own operation in China, and is taking over full business responsibility for its products in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. The new organization is designed to take Biacore's business to the next stage of its development in the rapidly growing market for life science instrumentation in China. The new Chinese operation will be headed by Peter Lee, the former Regional Sales Manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → for GE Healthcare GE Healthcare is a $18 billion (USD) unit of General Electric (GE). It employs more than 46,000 people worldwide and is headquartered in Chalfont St. Giles, Buckinghamshire, United Kingdom. GE Healthcare is the first GE business segment headquartered outside the United States. in Southern China. He will lead a team of six people based in Shanghai that will be responsible for the sales, marketing, applications support and service of Biacore's systems in China. In the outlying out·ly·ing adj. Relatively distant or remote from a center or middle: outlying regions. outlying Adjective far away from the main area Adj. 1. areas of the country Biacore will be supported by a network of local dealers and distributors. The organization will target customers in the life science research, pharmaceutical and biotechnology and food sectors. The market for life science instrumentation in China was estimated to be worth $1.6 billion in 2005(a), having more than doubled in value since 1998. Over the next several years the Chinese market for life science instrumentation is expected to grow significantly as the government continues to invest in new centers of excellence in the areas of proteomics and genomics. In addition the industrial customer base for Biacore's systems is forecast to increase at a rapid pace, given the growing number of pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. who are setting up significant research organizations in China. As well as developing conventional western pharmaceutical products, the pharmaceutical industry in China is looking more closely at traditional Chinese medicines Traditional Chinese Medicine Definition Traditional Chinese medicine (TCM) is an ancient and still very vital holistic system of health and healing, based on the notion of harmony and balance, and employing the ideas of moderation and prevention. as a potential source of new drugs, a trend which is expected to be an important positive in driving the demand for Biacore's systems. Erik Wallden, Biacore's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. commented: "I am pleased to announce this important strategic development for Biacore, and at the same time I would like to thank GE Healthcare, our previous distributor, for a good initial job of establishing Biacore's Chinese business. We believe that China has the potential to become a major market for our products and having our own organization will be crucial in achieving our medium term sales targets. Given the broad range of customers and applications that our systems address, it is crucial that we are in a position to market their key benefits directly to the customers that we target. Given his previous success with Biacore's products in China I am sure that Peter Lee and his team will be able to quickly build a much larger business for us in this key strategic market." (a) Chemical & Engineering News April 3 2006 Page 61 About Biacore Biacore is a global supplier of systems for protein interaction analysis, an area of increasing importance for scientists in the academic, pharmaceutical, biotechnology and diagnostic markets. The Company's systems generate unique data on the interactions between proteins and other molecules, including small molecules such as drug candidates. During research, development and manufacture, these data give insights into protein functionality, elucidate e·lu·ci·date v. e·lu·ci·dat·ed, e·lu·ci·dat·ing, e·lu·ci·dates v.tr. To make clear or plain, especially by explanation; clarify. v.intr. To give an explanation that serves to clarify. disease mechanisms and play a key role in the critical decisions needed for efficient development and production of therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. . Biacore's products are used in key areas such as antibody characterization, proteomics, lead characterization, immunogenicity immunogenicity /im·mu·no·ge·nic·i·ty/ (-je-nis´it-e) the property enabling a substance to provoke an immune response, or the degree to which a substance possesses this property. , biotherapeutic development and production. The Company offers a range of products to meet specific application needs. Customers include leading life science research centers, all of the leading global pharmaceutical companies, and a large number of companies in the emerging biotechnology sector. Biacore also markets food analysis solutions, providing key manufacturers with a system and ready-to-use kits for the determination of food quality and safety. The company has its own direct sales capability in the world's key markets (United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe, Japan, China, Australia) and a distribution network in Asia-Pacific. Biacore was founded in 1984 and is listed on the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. (STO:BCOR). Further information on Biacore can be found at: www.biacore.com This information was brought to you by Waymaker http://www.waymaker.net |
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