China’s Changing Future
The Chinese pharmaceutical market is already more advanced than many in the West imagine – and it only looks set to go in one direction.
Minzhang Chen | | Opinion
It is a special time in the development of China’s pharma market, with the rapid growth of domestic companies aiming for international markets, and emerging R&D and biotechs opening up to develop new innovative therapies locally. Over the past decade, I’ve seen a vast number of Chinese-born scientists returning home after successful international careers; they are now creating an exciting R&D environment in their home country. This influx of resources, coupled with greater healthcare investment in China, has created fertile ground for biotechs looking to secure funding. At the same time, the CNDA (the former CFDA) has been harmonizing China’s regulations with global standards, and streamlining drug-approval processes. The culmination of these changes is that an increasing number of biotech targets are advancing through clinical development, and greater numbers of international companies are looking to reach patients in China.
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