Big pharma gets a boost as China speeds up new drug approval...| MENAFN.COM

Sunday, 03 July 2022 03:45 GMT

Big pharma gets a boost as China speeds up new drug approvals


(MENAFN) For decades, Chinese patients have struggled to gain access to cutting-edge medicines thanks to bureaucratic delays that have hamstrung drug development. Now a sweeping government overhaul of drug approvals is poised to change that.

Beijing on Sunday announced new rules that will speed up approvals of medicines and medical devices, easing bottlenecks in introducing new treatments. The move is also a growth opportunity for international and local drugmakers in the world"s second biggest pharmaceutical market.

The changes were announced by the state council, China"s cabinet, just days before a key leadership gathering in Beijing next week. On 18 October, delegates will gather for the 19th national congress of the Communist Party, a twice-in-a-decade shuffling of China"s political decks.

MENAFN0910201700450000ID1095932762


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.