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China continues to make significant progress in the development of innovative medicines, with domestic pharmaceutical companies signing licensing agreements for new drugs nearly doubling the total from the previous year in the first quarter.
So far this year, Chinese drug manufacturers have entered into licensing agreements for innovative medications valued at over $60 billion, according to a report from an official at the National Medical Products Administration during a biopharmaceutical industry forum at the ZGC Forum Annual Conference held in Beijing from March 25 to 27.
Last year, over 150 licensing deals for innovative drugs were completed, totaling more than $130 billion, setting new records in both volume and value. Additionally, a record 76 new drugs received regulatory approval last year.
This rise in licensing activity underscores the growing international recognition of China’s capabilities in researching and developing innovative medicines. Up to March 27, the regulatory agency approved 10 new drugs, eight of which are original innovative medicines developed by Chinese companies.
To foster a supportive environment for pharmaceutical innovation, Chinese regulators are continuously refining the country’s legal framework, promoting innovation under the rule of law. They aim to ensure safe and efficient oversight throughout a drug’s lifecycle, improve regulatory capacity, and streamline the review and approval process to better assist developers.
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