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Posts Tagged ‘firm’

Vietnamese pharmaceutical firm faces patent lawsuit

In Uncategorized on December 24, 2010 at 4:37 am

A Vietnamese company based in Ho Chi Minh City which makes drugs for the cure of Hepatitis B, has for the first time in Vietnam produced a drug for Hepatitis C in an injection form.

Hepatitis drug made by Nanogen Company, whose amount is the same with foreign’s but much cheaper (Photo: Tuoi tre)

However, the Vietnamese company Nanogen Biopharmaceutical Ltd faces a lawsuit after the new medication was recently registered by authorities.

Freshview Intellectual Property Law Company in Hanoi, a representative of F.Hoffmann-La Roche AG in Vietnam has filed a complaint in a letter to the Nanogen Biopharmaceutical Ltd Company accusing the company of violating the patent protection law under which Roche is sole owner of Peginterferon alfa 2a the drug they have patented in Vietnam.

Roche claims the patent No. 2611 for the mentioned drug was granted by the National Office of Intellectual Property of Vietnam in 2002 and is valid until May 2017. Therefore no company in Vietnam can manufacture the interferon compound without permission from Roche.

Roche affirmed that the Nanogen Company was violating their  patent rights and requested the company to immediately stop producing, marketing and advertising its Pegnano drug from December 30.

Roche also demanded the registration of Pegnano drugs be revoked by the relevant authorities.

On September 30, Truong Quoc Cuong, head of the Drug Administration of Vietnam, a division of the Ministry of Health turned down Nanogen’s request to register and sell its Pegnano drug after Roche protested.

However, Cao Minh Quang, deputy health minister, authorized the registration of three products on December 8 as Nanogen Company assured him that it had not violated the patent law.
In a talk with Tuoi Tre newspaper, Ho Nhan the Nanogen Company director denied that the company had violated the patent law stating that he had respected all intellectual property rights.

According to Mr. Nhan, Pegnano is a hi tech product which the Vietnamese government had encouraged and supported.

Workers are making hepatitis B at Nanogen Company’s factory (Photo: Tuoi tre)

Moreover, the company had dedicated 9 years to making the drug accessible and within reach for poor Vietnamese hepatitis patients. Pegnano is sold for VND1.5 million-1.9 million per 180mcg (USD77) compared to Roche’s selling price of VND4.3 million for the same amount.

Mr. Nhan cited article 7 of the Vietnamese Intellectual Property Law which was revised in 2009 where it is clearly stated that the government can ban or limit the exercise of intellectual rights in cases where such rights harm national defense, welfare of the people or affects other crucial national interests.

Dr. Tran Tinh Hien, deputy director of the Ho Chi Minh City based Tropical Disease Hospital supported Pegnano manufacture in Vietnam as he believed that many countries would be willing to revoke intellectual patent rights in order to have cheap HIV medicine.
Hoang Huu Doan, former director of the state-run Central Pharmaceutical Factory No. 1 has also backed Pegnano as he believed that drug manufacturing monopoly must end.

Source: SGGP

Hyundai Motor may win bidder status for construction firm

In Uncategorized on December 24, 2010 at 4:33 am

SEOUL, Dec 22, 2010 (AFP) – South Korea’s Hyundai Motor will likely be named preferred bidder for the country’s largest builder, a major shareholder of the builder said Wednesday, after rival Hyundai Group was pushed out of the race.

Nine creditors with a combined 34.88 percent stake in Hyundai Engineering and Construction will vote at an unspecified date on whether to name Hyundai Motor preferred bidder, Ryu Jae-Han, head of state-run Korea Finance Corp, told Dow Jones Newswires.

On Monday creditors walked away from an initial deal to sell their stake to the Hyundai Group, saying it did not give them enough information about how it would finance the reported 5.51 trillion won (4.9 billion dollar) cost.

When asked whether Hyundai Motor, which lost the preliminary deal in November, would be chosen as preferred bidder this time, Ryu said he “can’t deny” the possibility.

“I can’t deny that the current atmosphere makes it seem that way, but that’s something that the creditors need to vote on. We’ll have to see how the process plays out,” Dow Jones quoted Ryu as saying.

If the deal goes through Hyundai Motor would become the construction company’s biggest shareholder.

The takeover battle is part of a family feud over the former Hyundai empire, which was split into separate units after the death of its billionaire founder Chung Ju-Yung in 2001.

Hyundai Motor, headed by the founder’s second son Chung Mong-Koo, was hived off almost a decade ago as a separate entity. With affiliate Kia Motors, it is now the world’s fifth largest carmaker.

The construction firm came under creditor control in a debt-for-equity swap in 2001 amid lingering fallout from the 1997-98 Asian financial crisis.

The Hyundai Group — which includes a shipping firm, a brokerage, a tour company that operates projects in North Korea and an elevator maker — initially outbid Hyundai Motor for the construction firm.

The group’s chairwoman Hyun Jeong-Eun is the founder Chung’s daughter-in-law.

But creditors said Hyundai Group failed to submit detailed information about its financing of the acquisition, particularly a 1.2 trillion won loan obtained from French bank Natixis.

Source: SGGP

China stands firm as G20 wrangling goes to wire

In Uncategorized on November 12, 2010 at 4:53 am

National economy still lacks firm stability

In Uncategorized on November 7, 2010 at 4:50 pm

VN takes firm steps against money laundering

In Uncategorized on August 14, 2010 at 3:24 pm

VN takes firm steps against money laundering

QĐND – Saturday, August 14, 2010, 20:50 (GMT+7)

The Government has promulgated a National Action Plan on Anti-money Laundering and Combating Financing of Terrorism for the period from August 2010-August 2011.

A decision to this effect coded 1451/QD-TTg was signed on August 12 by Permanent Deputy Prime Minister Nguyen Sinh Hung on behalf of the Prime Minister.

Accordingly, the Steering Committee for Anti-money Laundering was assigned to instruct and coordinate relevant ministries, sectors and agencies to implement the plan. Relevant ministries, sectors and agencies were assigned to study the practical plan and coordinate with the State Bank of Vietnam to carry out their tasks.

Under the national action plan, the Public Security Ministry will issue a circular to give instructions to relevant ministries and sectors to implement the Penal Code’s Article 251 on anti-money laundering.

The Finance Ministry will create a circular with instructions on the implementation of the Government’s Decree on Anti-money laundering in securities, insurance, rewarded games and entertainment.

The Justice Ministry will submit to jurisdiction levels the ratification of the convention on anti-transnational crimes.

The State Bank of Vietnam will check against limitations on regulations relating to high-risk customers and requirements of beneficiaries.

The Ministry of Information and Communications will disseminate information on anti-money laundering and combating the financing of terrorism.

In August 2011, the Justice Ministry will review and make proposals for revising (if necessary) the Penal Code, to be in line with the Article 2 of the international convention on combating financing of terrorism and special recommendations of the Financial Action Task Force (FATF).

Source: VNA/Vietnam+

Source: QDND

Two die in Russia power plant ‘terror act’: firm

In Uncategorized on July 21, 2010 at 3:23 pm

Two people were killed and another two wounded on Wednesday during a “terror act” at a hydroelectric power plant in Russia’s volatile North Caucasus region, state-run power group RusHydro said, citing preliminary information.

File photo of the Baksanskaya hydroelectric power plant in Russia’s Kabardino-Balkaria region

“An explosion took place on the premises of the Baksanskaya hydroelectric power plant” early Wednesday, the company said in a statement. “Two guards died, two people were hospitalized.”

As a result, the power plant’s engine room was on fire, it said.

The power plant is located on the Baksan river in Kabardino-Balkaria, part of the North Caucasus region where Russian authorities are battling a Muslim insurgency.

Source: SGGP

US firm supports Vietnam’s testing micro-modular data centre

In Uncategorized on July 15, 2010 at 4:52 pm

US firm supports Vietnam’s testing micro-modular data centre

QĐND – Thursday, July 15, 2010, 20:43 (GMT+7)

US company Dot VN Inc. and Vietnam Internet Network Information Centre (VNNIC) have signed a memorandum of understanding to conduct a testing micro-modular data‘ (EMS) C3-SPEAR Micro-Modular Data Centre equipment at VNNIC’s primary Internet data centre in Hanoi.

Accordingly, Dot VN and VNNIC will partner together to evaluate the performance of EMS’ data centre infrastructure technology in a trial that is expected to initially last three months.

The test is aimed at demonstrating the technology’s capabilities with the intention of building data centres in Vietnam and Asia based on EMS’ Micro-Modular Data Centre equipment.

VNNIC will be responsible for providing the technical staff who will manage the testing and operation of the data centre unit, while Dot VN will provide support to VNNIC as necessary in the implementation of the test.

“We are extremely excited about the testing that will be performed in Hanoi over the next three months,” remarked Dot VN CEO Thomas Johnson.

He continued, “EMS’ C3-SPEAR Micro-Modular Data Centre is cutting edge technology that is both mobile and highly scalable. Given that both the cost and availability of electricity in Vietnam continues to be an ongoing challenge for sustained IT growth, we believe that the C3-SPEAR’s industry leading energy efficiency is the ideal solution to overcome this issue.”

California-based Dot VN, Inc. ( provides innovative Internet and telecommunication services for Vietnam and operates and manages Vietnam’s innovative online media web property,

The company now operates offices in Hanoi, Da Nang and Ho Chi Minh City.

Source: VNA

Source: QDND

Euro holds firm after G20 summit

In Uncategorized on June 28, 2010 at 12:51 pm

TOKYO, June 28, 2010 (AFP) – The euro held steady against other major currencies in Asia on Monday after weekend talks between Group of 20 leaders in Toronto delivered no upset to markets, economists said.

The euro was at 1.2380 dollars in Tokyo afternoon trade, flat from New York late Friday, while edging up to 110.69 yen from 110.57 yen.

The dollar was trading at 89.40 yen, up from 89.20 yen in New York.

The leaders’ joint statement, released at the end of two days of talks, warned that “failure to implement consolidation where necessary would undermine confidence and hamper growth”, but signalled compromise on such moves.

“Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilise or reduce government debt-to-GDP ratios by 2016,” it promised.

The communique, thick with exemptions and caveats, was signed by leaders who “intended their statement not to affect anybody”, said Mizuho Corporate Bank market economist Daisuke Karakama.

“They achieved the goal of being neutral to markets — it’s a statement of little meaning,” he said. “There is nothing concrete in the statement,” he added, noting that it was unclear how compulsory the debt-cutting goals are.

A dealer at a major North American bank in Japan told Dow Jones Newswires the G20 outcome showed restraint in debt-cutting goals, easing some concern that austerity measures could drag on risk-sensitive assets such as the euro.

“Given all the worry about the financial trouble in Europe and elsewhere, the G20 outcome doesn’t set very strict guidelines for trimming debt,” the dealer said, forecasting a firmer single currency in the near term.

The G20 statement also called for “greater exchange rate flexibility in some emerging markets” but shied away from specifically naming China, which has been pressured to allow the yuan to strengthen to ease trade imbalances.

US President Barack Obama went further than the carefully worded joint statement, saying he expected Beijing to be “serious” about the policy announced a week ago allowing greater flexibility of its currency.

China on Monday set the strongest yuan exchange rate in years after the summit.

The People’s Bank of China said it set the central parity rate — the centre point of the currency’s allowed trading band — at 6.7890 to the dollar, a fraction of a percent stronger than Friday’s 6.7896.

The dollar was lower against other major Asian currencies, falling to 1.3844 Singapore dollars from 1.3958, to 46.26 Philippine pesos from 46.55 and to 1,200.55 South Korean won from 1,213.25.

The dollar declined to 32.35 Thai baht from 32.45, to 31.99 Taiwan dollars from 32.09 and to 9,027.50 Indonesian rupiah from 9,072.50.

Source: SGGP

Vietnamese firm wins international investor award

In Uncategorized on June 23, 2010 at 4:36 pm

Vietnamese firm wins international investor award

QĐND – Wednesday, June 23, 2010, 22:1 (GMT+7)

CMC Blue France, a Vietnamese business in France, has been presented with the best international investor award in 2010 by the Paris Region Economic Development Agency (Paris-Ile De France Capitale Economique).

The award aims to honour outstanding foreign businesses who make a great contribution to the French capital’s development.

CMC Blue France, which is a branch of Vietnam’s CMC Group, was set up in Paris last year, specialising in software and technical assistance services. The company is expected to expand its operations to other regions, including the Middle East and Africa.

Source: VOV

Source: QDND

Australia firm on Afghan mission despite deaths: PM

In Uncategorized on June 8, 2010 at 10:32 am

SYDNEY, June 8, 2010 (AFP) – Australian Prime Minister Kevin Rudd Tuesday said sending troops to Afghanistan remained an important mission for civilised nations, after 10 NATO soldiers died in the alliance’s deadliest day this year.

Two Australians killed by a roadside bomb during a patrol in the restive southern province of Uruzgan were among the 10 foreign soldiers who died in a rash of attacks on Monday.

Australian Prime Minister Kevin Rudd announces the deaths of two Australian soldiers serving in Afghanistan during a press conference in Sydney on June 8, 2010. AFP photo

“This has a been a hard day, a difficult day for so many of our people in uniform and those in uniform from other lands,” Rudd said.

“There are families grieving today all around the world.

“But the mission… is an important mission for all civilised countries.”

Seven American troops also died on Monday in two bomb blasts and a small arms attack, while a French soldier was killed by a rocket attack, making it one of NATO’s deadliest days of the nine-year conflict.

Australia has about 1,550 troops in Uruzgan, making it the 10th biggest contributor to NATO’s International Security Assistance Force (ISAF).

Rudd, who has called the war “unpopular”, sent 450 reinforcements last year but has resisted Washington’s calls to provide more and Tuesday repeated his stance that Canberra’s commitment “is about right”.

“We have never extended a blank cheque when it comes to our troop commitment,” he told reporters in Sydney.

The prime minister said there were indications that Australian forces were making progress in the former Taliban heartland of Uruzgan, where they are mentoring Afghan National Army soldiers.

“But let us make no bones about it, this is a very tough and difficult continuing military campaign,” the prime minister said.

“And we are up against a determined and dangerous enemy. However, under no circumstances can Australians afford to allow Afghanistan to become a free operating training base for terrorist organisations in the future.

“Therefore our resolve must be firm and we must complete the mission that we have set for ourselves.”

Rudd said the security situation in Afghanistan was changing in some areas, but the deaths were a sobering reminder of the dangerous work of the military.

The Australian soldiers are the first Australians to die in 11 months, and their deaths bring to 13 the number killed in the campaign.

Acting Australian Defence Force chief David Hurley said one man died instantly after the roadside bomb exploded in the Mirabad Valley, and the second received emergency first aid but could not be saved.

A sniffer dog also died in the incident, which will be subject to a military investigation.

Asked whether the NATO-led coalition was winning against the insurgents after almost a decade of clashes, Hurley said: “Bodies aren’t going to tell whether you win or lose this war.

“Some good things are happening and we’re heading in the right direction.”

It was the first time since the Vietnam war that two Australian soldiers died in combat on the same day, Hurley said.

Source: SGGP