Expert Profile
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David Wei
Since October 2007, chief executive officer and executive director of Alibaba.com;
From November 2006 to September 2007, president of Alibaba.com and executive vice president of Alibaba Group;
From 2002 to 2006, president of B&Q China, a subsidiary of King
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China has at least 100 million people suffering from mental illness till 2009, according to Huang Yueqin, the director of the National Centre for Mental Health. Mental illness has now overtaken heart disease and cancer as the biggest burden on the Chinese health system, according to the World Health Organisation, affecting seven per cent of the population. The definition of mental illness is broad, and a large proportion of Chinese suffer from relatively minor conditions such as anxiety, depression, drug addiction and obsessive-compulsive disorder.
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| PPD To Acquire BioDuro In China Expansion |
 PPD, Inc. today announced it has signed an agreement to acquire BioDuro LLC, a drug discovery outsourcing company that provides a broad range of integrated services to biopharmaceutical companies. The acquisition will expand PPD's drug development capabilities in China, according to PPD’s press release. BioDuro currently works with nine of the 12 largest pharmaceutical companies. After the acquisition closes, PPD and BioDuro will perform a broad range of research and development services for large pharmaceutical clients from early stage through Phase IV. According to Barclays Capital, biopharmaceutical companies spend $20.2 billion on drug discovery research annually, with $1.6 billion being outsourced today. That number is expected to grow to $5 to $10 billion in the next three to five years. After the acquisition of BioDuro is completed, PPD will employ nearly 1,000 people in China, making it the largest Chief Research Officer to offer clinical development and discovery services in the country. The acquisition is subject to various closing conditions and is expected to close in the fourth quarter of 2009. 
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